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Gift from relative

This query is : Resolved 
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(Querist)
03 January 2011 Dear Sir,
Recived gift from sister residing out Side India (NRI) .
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
03 January 2011 not taxable u/s 56(2) as from a relative.

However do take a copy of bank statement of your sister to evidence payment made and source of the same.
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
03 January 2011 not taxable u/s 56(2) as from a relative.
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