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Gift through nre account

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 July 2014 I am a resident . my relative is NRI and he has a NRE account , he want to give me a gift cheque of Rs 25 Lakhs through his NRe account. I want to know whether this gift is taxable or not in my hand
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
12 July 2014 no. the gift is not taxable provided the relative is covered in the definition of relative provided under section 56(2)
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Sandeep Dharar

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Sandeep Dharar (Expert)
12 July 2014 The receipt is fully exempted from tax, since received from relative(provided if the relative is covered u/s56(2)).
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
15 July 2014 mention the relation of such relative

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