Taxable income of received from Foreigner

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35 Points Posted on 15 November 2021
sir , Amount received from my Friend
outside India . it is credited my bank account it is taxable? My Freind wo foreigner he pay tax in his country ? both taxable?
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On 15 November 2021 at 11:30 Report
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This discussion clarifies whether money received from a foreign friend into an Indian bank account is taxable. The general rule is that gifts valued at £50,000 or more from non-relatives are subject to tax in India. It also touches upon whether the sender's tax payments in their own country affect the recipient's tax liability in India.

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SEO Sai Gr. Hosp.
212572 Points Posted on 15 November 2021

Any gift of value Rs. 50,000/- or more from non-relative is taxable.

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On 15 November 2021 at 11:58
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Chartered Accountant
24588 Points Posted on 15 November 2021
Above 50000 rupees is taxable
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On 15 November 2021 at 12:15
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Student
252 Points Posted on 18 November 2021
Gift worth above 50,000/- is taxable from non relative
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On 18 November 2021 at 07:03

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