Gift from NRI relative
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 January 2010
I was transferred money to my account from my brother from abroad. From this money I bought a car on my name.
and the EMI will also be paid by my brother.
please suggest about the tax part.
and the EMI will also be paid by my brother.
please suggest about the tax part.
04 January 2010
Hiii....
Gift from Relative is not taxable under section 56(vii)....
Brother comes under relative category in the above section, therefore it is not taxable in your hand.
Regards!!!
Dinesh S. Adhikari
Gift from Relative is not taxable under section 56(vii)....
Brother comes under relative category in the above section, therefore it is not taxable in your hand.
Regards!!!
Dinesh S. Adhikari
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
