GIFT TAX ACT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 January 2011
Gift to be received from sister(widow) of her father who is living abroad. The money to be gifted to her brother, she has received from her sons working in abroad. Whether is is feasible and subject to any taxes in india and further is there any ceiling of upper amount. And what kind of documents are to be obtained.
29 January 2011
Transfer of money to near relative is not taxable in india.
Also any gift to relative is not taxable under gift tax.
There is no ceilling of upper limit.
Also any gift to relative is not taxable under gift tax.
There is no ceilling of upper limit.
Guest
Guest
(Expert)
29 January 2011
Agree with Mr. Bhagat
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