TDS on LRS into NRO account (deposit from real brother as gift)

This query is : Resolved

Saurav Puri (Querist)
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16 January 2025 HI,

If my brother is transferring money to me: eg INR 60,00,000/- (as gift) in parts , say 5-6 transactions

a) is their any restriction or issue with that?
b) i believe its not taxable, as its my real brother?
c) do we/he need to submit any document?
d) trust their will be no tax deducted at source for it

Please advice urgently

Best Regards
Saurav

Nikhil Kaushik

Nikhil Kaushik (Expert)
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17 January 2025 What is the tax residency status of you and your brother?
If your brother (donor) is non-resident and you (recepient) are resident, then
1. no there is no restriction.
2. It is not taxable
3. it is advisable to have a gift deed.
4. No TDS applies.

If your brother is non-resident and you are resident, then
1. no there is no restriction except for limit of USD 250000 annual limit.
2. It is not taxable
3. it is advisable to have a gift deed.
4. No TDS applies.

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