Gift From NRI recieved by an individual is taxable or not ? The amount is 30 Lakhs in single trench.
2 Replies
RAJU
(LEARNER)
(1089 Points)
Replied 03 December 2010
Hi,
Taxability of gift depends on the relationship between the recipient and the donor. Gift from relatives is exempt from tax.
Paresh Rathod
(CA)
(222 Points)
Replied 03 December 2010
An NRI can gift to his/her parents in India from their NRE account without their parents suffering any tax.
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