Can X (Resident ) gift Rs 700000 to his Father's Brother Who is Non Resident in his foreign Account??
And Can Father's brother Gift X's Father from Outside India the same amount
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Gift To Non Resident-Relative
Replies (2)
Yes and yes.
Residential status is not important - the relationship is for it to be considered a gift.
Exempted as sec 56 (2) (x)
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