Easy Office
LCI Learning

income tax on gifts to NRI.

This query is : Resolved 
Profile Image

Profile Image

(Querist)
10 January 2009 My mother is a NRI. I, her daughter, am a resident Indian. I would like to gift her some amount,say 10 lacs.

Will this amount be taxable for her? The amount gifted will be reflected in her NRO account.
Profile Image

C A GROUP COACHING

Profile Image

C A GROUP COACHING (Expert)
10 January 2009 IMMATERIAL OF WHICH ACCOUNT THE GIFT PROCEEDS ARE CREDITED WHETHER LOCAL OR NRE/NRO, IN INDIA THIS GIFT IS NOT TAXABLE AS THIS GIFT IS MADE TO THE RELATIVE AS DEFINED IN THE GIFT TAX PROVISIONS.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links