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Gift by Indian To NRI Relative

Ravinder (Independent ) (82 Points)

10 June 2021

Gift by an Indian to his/her relative settled abroad Taxable or Not ? And up to which amount it is Tax free ??

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Vasudevan C P (403 Points)
Replied 10 June 2021

W.r.t to gifts received by non-residents by way of remittance from India were not chargeable to tax in India since the gift transaction was complete only when the money was received by the non-resident in a foreign bank account outside India. So the income in the form of gift of money remitted from India was neither received in India by the non-resident nor accrued in India nor was it deemed to have been received or accrued in India. It was therefore not chargeable to tax in India in the hands of the non-resident.

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 10 June 2021

I think it is not taxable.

veerendar singh (tax consultant) (3301 Points)
Replied 10 June 2021

Give more details about mode and place of payment

S.Thiyagarajan (Consultant) (24 Points)
Replied 11 June 2021

Deposit Like family remittance

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