TDS on gift from real brother into NRO account - should be tax free right?

Saurav Puri (4 Points)

16 January 2025  

TDS on gift from real brother into NRO account - should be tax free right?

HI,

If my brother is transferring money to me: eg INR 60,00,000/- (as gift) in parts , say 5-6 transactions

a) is their any restriction or issue with that?

b) i believe its not taxable, as its my real brother? HDFC bank says above 7 Lakh is taxable at 20%

c) do we/he need to submit any document?

d) trust their will be no tax deducted at source for it

Please advice urgently.. if its taxable.. do you suggest i open resident account, get the funds and then transfer the account to NRO.. if that helps me save tax?

Best Regards

Saurav