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GIFT FROM FOREIGN NATIONAL

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 November 2010 Can an Indian national can accept gift from foreign national? what are the legal requirements to be complied with. whether prior permission is required
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
04 November 2010 You have to pay custom duty, in case it is in kind. It will also be taxable under income tax.

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