Hello,
I want to know that if a NRI gifts his property to a resident of India on the occasion of his marriage, will he be liable to any Gift Tax?
The NRI is not the relative of the resident. He is a friend.
If it is exempt, under which section?
Menu
Gift tax on property on occasion of marriage
Replies (4)
It is Taxable.
Thanks for the reply.
Under what circumstances gifts during marriage are exempt?
Under what circumstances gifts from NRI are exempt?
Dear Nikhil Ji
1.Gift during marriage is taxable if the amount of gift exceed Rs.50000/-,gift received from relative is exempt form tax there is no monetry limit.
2.Gift received from NRI is also taxable there is no circumstances gift from NRI are exempt.
with warm regard
manish sharma
Taxable above Rs. 50,000/-
Recent Topics :
- ITC availed on 5%-rate passenger transport (AC bus
- Extension of Due Date of AY 2026-27
- FAST DS 2026
- Does AIS GST Purchase aggregate GSTR-2B expenses?
- Form 26A - System has encountered some technical p
- Tool to convert GST invoice PDFs into Excel —
- Revised or rectification or leave it?
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
Related Topics :
CAclubindia
