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...🙏😌
Arun Shah (41 Points)
12 April 2022I 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...🙏😌
Kev Men
(756 Points)
Replied 12 April 2022
CA Puja Sharma
(Chartered Accountant)
(4975 Points)
Replied 12 April 2022
When a resident Indian gifts to an NRI relative, it is exempt from tax.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
CAclubindia
