whather gift received from NRI to Non Relative is Taxable ?

Dear Manoj,

YA IT WILL BE TAXABLE SUBJECT TO THE THRESHOLD OF Rs. 50,000 EXCEPT IN FOLLOWING CASES:-

(1) on the occasion of the marriage of the individual; or

(2) under a will or by way of inheritance; oR

(3) in contemplation of death of the payer or donor, as the case may be;

 yes , i agree with AMIR.

can we adopt fair market value of equity shares when we does not have any bills of purchase but only dates of acquistions please tell is it possible. if possible i want decided case / judgements

yip amir is absolutely corrrrrect

Dear Dilip,

FMV of Shares cannot be taken as Cost of shares merely on the ground that you don't know the actual cost..

FMV Can be taken as Cost only in one situation where shares were acquired before 01.04.1981..In this case there is an option to take FMV as on 01.04.1981..