Wealth tax in case of gift from nri to indian resident?
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 November 2013
Is wealth tax is applicable in case of receipt of gift in form of cheque (Rs.1000000) from a NRI to Indian Resident?
18 November 2013
not applicable on this amount under wealth tax act
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 November 2013
Thanks for your reply
what if net wealth of Indian resident is above Rs. 1 Crore?
what if net wealth of Indian resident is above Rs. 1 Crore?
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