Mr. A, an NRI gives Mr. B, another NRI, a gift of Rs. 4 Lacs by way of
cheque of an NRE account of an Indian Bank. Mr. B deposits the cheque
into his NRE (Non Resident External) Account of an Indian Bank. Mr. A
and Mr. B are not relatives.
Is the gift taxable in the hands of Mr. B?
3 Replies
DMC
(Student)
(364 Points)
Replied 06 February 2008
But what if the cheque was given outside India and the cheque was only deposited in India into an NRE account.
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