I ‘m an NRI.I will be receiving the money from my parents. My parents will be receiving the Land compensation from High court on behalf of Govt of Tamilnadu.The land category is rural area.
Can I get the money from my parents as a gift or Inheritance benefits. Is there any tax applicable if I will receiving the Land compensation money from my parents.
Subject to rules regarding transfer of money from India to any foreign country, there is no tax effect upon you.
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