Wealth tax in case of gift from nri to indian resident?

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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?

CMA. CS. CA (Final)Santosh Jha (Expert)
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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?

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