Gift from reletive
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 August 2014
I Received cash of Rs.35 lacs trough bank from my brother who is working in australia from last 3-4 years.
Please suggest me what are the tax implications in this case and also suggest me how to show this transaction (as a gift or by any other way)?
Please suggest me what are the tax implications in this case and also suggest me how to show this transaction (as a gift or by any other way)?
21 August 2014
as you have received the cash from your brother, it is not taxable.
Show it is as gift as it is gift.
Show it is as gift as it is gift.
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 August 2014
thanks for the reply
whether there any need to make gift deed ?
i also want to know that whether i can give this amount to someone on interest ? if yes then what are the tax implication on that interest income
whether there any need to make gift deed ?
i also want to know that whether i can give this amount to someone on interest ? if yes then what are the tax implication on that interest income
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