Gift to NRI Relative
Mohit (Others) (68 Points)
20 June 2020
Is Gift to Nri relative taxable and is it requires to deduct TDS on it?
4 Replies
Bhavin Shah
(Chartered Accountant)
(821 Points)
Replied 21 June 2020
This will get covered in the definition of relatives as per section 56(2)
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 24 July 2020
Brother and sister will get covered in the definition of relatives as per section 56(2)
So, Gift is not taxable in your case and you also are not required to deduct TDS on it as it's exempt.
So, Gift is not taxable in your case and you also are not required to deduct TDS on it as it's exempt.
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