I Resident Indian, sr citizen wanted to gift to my daughter and wife of my late son, @ 10,000$ each. Have I to pay tax in india? Any permission, whether receiver has to pay income tax in US? Pl guide...🙏😌
2 Replies
Kev Men
(788 Points)
Replied 12 April 2022
Kindly consult a CA as form 15CA/CB might need to be furnished before remitting the amount to USA...The CA will accordingly decide the TDS applicable.
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 12 April 2022
When a resident Indian gifts to an NRI relative, it is exempt from tax.
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