I have a NRI account in India,I have paid taxes on such deposited amout already in Dubai,I have balance in such account and want to transfer such balance amount to my brother as gift.
We both are resident for last 5 financial year,can I transfer such amount to him, Will any tax liability arise on such transaction to anyone.
"We both are resident for last 5 financial year"
Are you 'resident' as per IT act?
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