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Syed Chennai (student)     26 September 2016

Gift from father's brother

Dear Sir/madam,

   I am going to receive funds online from my father's brother. He is a NRI.

Then I will be transferring the funds to my mother, and we will be investing it in a property in her name.

According to my knowledge, both of them are considered as gifts.

Will there be any income tax involved, in any of the above transaction? 

Will there be any income tax involved, if my father's brother directly transfer to my mother's account?

Should we submit any forms related to gift, while filing ITR?

Only the bank statement is enough as proof, if there is an IT enquiry?





 2 Replies

adv.bharat @ PUNE (Lawyer)     26 September 2016

Sayed u need to consult tax consultant for transfer of such amount and its limit.

If that amount directly transfered in to your mothers name then bank statement is sufficinet for IT return.

If u like my suggestion then give THANK on my profile.

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Ms.Usha Kapoor (CEO)     27 September 2016

Dear Client,

               Gifts from your paternal uncle and the gift from you to you rmother i snot taxable and completely exempt from  tax. Get a Gift Deed drafted and then registered from your uncle to you and then from you to your mother. Two registered Gift Deeds. IN THOSE GIFT DEEDs IT SHOULD CLEARLY BE MENTIONED THAT  DONOR OUT Of naturtal love and affection  to you is gifting his property to you and yo  the recipient  is  accepting the gift as  atoken  or as an acknowledgemnt o flove towards your  uncle. Same thing should be ementioned  in the gift deed executed between you and your nmopther to avoid income tax hassles.Your father's brother can also directly  transfer the cash gift into  your mother';s  Bank account.If you appreciate this answer please click the thank you button on this forum.

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