Gift by non resident indian from nro account


1. Is gift given by non resident indian to his blood relative taxable in hands of person giving the gift or receiving the gift.

2. Is there any document required or delcaration required for giving such gift and if yes does it need to be attested by any government agency.

 

 
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Student

Originally posted by : ANIL
1. Is gift given by non resident indian to his blood relative taxable in hands of person giving the gift or receiving the gift.

2. Is there any document required or delcaration required for giving such gift and if yes does it need to be attested by any government agency.

 

 

Namaste!

1.) No, gift from A BLOOD RELATIVE id not taxable in the hands of receiver or the donor. But, the income earned from this gift will be taxable in the hands of the receiver of the gift.

2.) No, declaration is not required in blood relative cases.

 
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Proprietor

yes i do agree but you need to an gift deed executed for being safer side

 
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