banner_ad

Gift income query

Others 636 views 4 replies

Hi Everyone,

Can any one help me in my following query:

Any Residential Indian getting Remittance in convertible foriegn exchangecurrency, from his son working outside India, Is the money received from such such person is exmpted from the head Gift Income thus the person (receiver) in India is not liable to pay tax on amount what his son has remited to him.

Is the whole amount exempt or there is any linit towards this exemption???

 

Replies (4)

If son remit the amount from outside india to him parents living in India then such remittance is nottaxable in any case in the hands of parents.

 The given income will not be taxable in the hands of the receiver as the source of income and person earning that income lies outside india.........remmitence does nt matter.........

 

thank u very much...for solving the doubt

the remittances will not be taxable.......................


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details