My friend wishes to travel on excursion (tourist visa) to U.S.A. Another friend, who is inviting him, has agreed to pay for and send the air tickets from U.S.A. itself for the journey to and from U.S.A.
Will this free ticket attract any income tax and does it have to be informed in the Income Tax Return ? Or, does it have any other foreign exchange regulation implication ? Kindly advise.
The Air Ticket send by that another friend is just an Indirect gift in kind .......so it will not attract tax as long as the cost of Fare is less than Rs. 50000 p.a.
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