Thank you for your response. I read somewhere that even gifts from blood relations of amount greater than Rs 50,000/- will be added to receivers income and the total income will then be subject to tax.
That was the reason for my query.
Is it true then, that an NRI can give can give gifts by cheque of any amount to a blood relation, and the amount will not be added to the receiver's income for tax pusposes?
CAclubindia
