Why Financial Planning?

Planning is bringing the future into the present so that you can do something about it NOW.

We love getting gifts. Gifts might involve a lot of emotion and tradition. But we have to consider practical and mundane things like rules and taxation when it comes to gifts in terms of cash or assets.

NRIs can give and receive gifts in cash or kind (jewelry, antiques, property) to and from relatives and non-relatives in India. Check tax on gift in India & exemption limits…

You can also get NRI Gift Deed Format from the end of this post

gift tax in india

Must Read – NRI Tax in India new rule

NRI Gift Tax In India 

Let us look at the tax implications of gifting for NRIs but first check basic definitions which will help you in understanding the rules & other issues.

Definition

The Income Tax Act defines a gift as any asset received without consideration like money or money’s worth. It can include cash, movable property, immovable property, jewelry, etc.

Check – Tax Residency Certificate for NRIs

Relatives and Non-relatives

The treatment of Gift Tax In India is different when given to relatives and when given to non-relatives. The following people are considered relatives –

Father Child’s Spouse
Mother Grandchildren
Stepmother Grandchild’s spouse
Spouse Siblings
Children Stepsister and Stepbrother
Stepchildren Siblings’ spouse.
Grandparents

All other persons are considered non-relatives.

Must Read – NRI Resident Savings Account

NRI Gift Taxes Rules In India 

  • Immovable property can be gifted to an NRI provided the remittance of sales proceeds does not exceed USD 1,000,000 per year.
  • NRIs can get gifts from relatives in the form of shares and securities provided the gifts do not exceed 5% of the paid-up capital of the company; the sectoral cap is not breached and the NRI is eligible to hold the securities.
  • A gift received from a specified trust, specified fund, or as a scholarship from educational institutions is not taxable.
  • If the gifts are an immovable property outside of India, it is exempt from tax.
  • The value of the gifts cannot be considered as a deduction while calculating income tax.
  • Income received from a gift in India is taxable in India whether the receiver and giver are Resident Indians or NRIs.
  • When you receive gifts, make sure the necessary documentation is in place.
  • Cash gifts that exceed Rs. 2,00,000 can be subject to penalty. Ensure that you get the relevant gift through cheques or bank account transfers.

nri gift taxes india

Must Check – NRIs should consider before buying a gadget abroad

Gift by NRI to Resident Indian

NRI gifts to Resident Indian – Let us look at the different scenarios when an NRI gifts to Resident Indian –

  • Gifts from NRI Relative are exempted from tax – When an NRI gives gifts in the form of cash, cheque, items, or property to a Resident Indian who is a relative, both giver and receiver are exempt from tax in India.
  • When an NRI gives gifts in the form of cash, cheque, items, or property that is within the value of Rs. 50,000 to a Resident Indian who is not a relative, both giver and receiver are exempt from tax in India.
  • When an NRI gives gifts in the form of cash, cheque, items, or property that exceeds the value of Rs. 50,000 to a Resident Indian who is a non-relative, the NRI gift taxes India is payable by the receiver. The amount is added to the receiver’s income and taxed as per the income tax slab applicable to the receiver.
  • When an NRI gives gifts in the form of cash, cheque, items, or property to a Resident Indian for marriage or through will, both giver and receiver are exempt from tax in India irrespective of the ‘relative’ status.

tax on gift in india

Must Read –Power of Attorney for NRI

 Gift to NRI by Resident Indian

Resident Indian gives a gift to an NRI – Let us look at the different scenarios when an NRI receives a gift from a Resident Indian –

  • A gifts to NRI Relative is exempted from tax – When a resident Indian gives a gift in the form of cash, cheque, items, or property to an NRI who is a relative, both giver and receiver are exempt from Gift tax in India.
  • When a resident Indian gives a gift in the form of cash, cheque, items, or property that is within the value of Rs. 50,000 to an NRI who is not a relative, both giver and receiver are exempt from tax in India.
  • When a resident Indian gives gifts in the form of cash, cheque, items, or property that exceeds the value of Rs. 50,000 to an NRI, who is a non-relative, the India gift tax NRIis payable by the receiver. The amount is added to the receiver’s income and taxed as per the income tax slab applicable to the receiver. The maximum limit for such a gift is USD 250,000 in one financial year. [This limit is defined under LRS (Liberalised Remittance Scheme) – the total amount of foreign exchange purchased from or remitted through, all sources in India.]
  • When a resident Indian gives gifts in the form of cash, cheque, items, or property to an NRI for marriage or through will, both giver and receiver are exempt from tax in India irrespective of the ‘relative’ status.
  • When a resident Indian gives a gift in the form of shares or securities of an Indian company, the total value cannot exceed USD 50,000 in one financial year. The gift should follow the regulations of RBI regarding NRIs holding stock in Indian companies.

When you give a gift or get a gift, make sure you understand the rules regarding gifts and the tax implications and act accordingly. wiseNRI

The information that I shared in the above post is one part of the story – issues can be complex based on your resident status. If we talk about the USA – you can gift up to $15,000 in a year. This is not that simple but just an example. So check the rules in countries where you are staying.

NRI Gift Deed Format

It’s important to sign-gift deeds & keep them safe to avoid issues in the future. Many readers were asking for sample NRI gifts deeds that they can copy. So I have added ready to use gift deed format for immovable property & even movable property.

Please share any additional information or experience that you have about a gift to NRI or gift from NRI – that will really help all readers. If you have any questions related to NRI gifts taxability in India – feel free to add them in the comment section.

gift tax in india
Published on February 18, 2022

Hemant Beniwal


Hemant Beniwal is a CERTIFIED FINANCIAL PLANNER and his Company Ark Primary Advisors Pvt Ltd is registered as an Investment Adviser with SEBI. Hemant is also a member of the Financial Planning Association, U.S.A and registered as a life planner with Kinder Institute of Life Planning, U.S.A. He started his Financial Planning Practice in 2009 & is among the first generation of financial planners in India. He also authored Bestseller book "Financial Life Planning". 

  • I wish to purchase a residential house in kolkata. the vendor is an NRI now. He wishes to execure a GPA in favour of his mother making a declaration of gift of the house in her favour & to transfer the house , on his behalf, to anyone to whom she wishes..?Is it ok ?

  • gift recieve from relative in foreign currency (one-half is received in india) and remaining is used for education of son in germany. taxability for ordinary resident

  • Hello, I am planning to sell real estate in India and bring the money to the USA. The amount is about Rs. 2,50,000,000. Need suggestions on this.

  • I want to send Rs. 18,00,000 to my own elder brother in Canada, who is a permanent resident of Canada. Is there any income tax hurdle to do that

  • I like to send 2000$ To india(for my mothers bank account to purchase gold bangles as gift to her How much tax do I need to pay And what is the process

  • I am NRI since 1995 i am working in south Africa last 5 years my company having some financial issues to send the my salary my NRI accountthey advised me to provide my wife account to transfer my salary every months.

  • If my sibling (Indian Citizen) has a property(residential vacant block) in India, possibly worth 3 Crores and wants to gift to me (I am a citizen of another country and also an OCI), would it be better to gift the land or sell the Land and than gift the proceeds ? Question is which is better in terms of Indian Tax liability for me and my sibling. Can the proceeds of this be transferred to an account in an overseas bank ? Appreciate your advise.

  • Hi , my dad want to gift me some money from India . Can you please update me do I have to pay tax in UK on this amount ? It will be aprox. £40k

    • Hi Jag,
      Yes, you can bring the proceedings to the US. It is recommended that you get the payment of the property through proper banking channels. Documenting proof is required for transferring money on sale of property. The first step is to get a certificate from a Chartered Accountant (CA) in India. Once you have the CA certificate along with ‘Form 15CB’, the next step involves taking the signed undertaking along with the CA certificate on Form 15CB, to the bank where you have your NRO account. Your bank will transfer your money abroad. There is a limit of USD1,25,000 per year that includes sale proceeds of up to two immovable properties held by NRIs

  • My mother has 3 children. Out of 3 children my mother wants to gift India’s house to my sister. We don’t have any objection for that

  • Is any gift tax involved in gift being given in property to her son from an NRI to her son an Indian Citizen and property is in India

    • Hi Tirath,
      When an NRI gives gifts in the form of cash, cheque, items, or property to a Resident Indian who is a relative, both giver and receiver are exempt from tax in India.

  • As a PR holder in USA can I receive money (as a gift) from my father-in-law in India? If so, what’s the annual limit without any tax implications in USA?

    • Hi Abhishek,
      When an NRI gives gifts in the form of cash, cheque, items, or property to a Resident Indian who is a relative, both giver and receiver are exempt from tax in India.

    • Hi Minish,
      When an NRI gives gifts in the form of cash, cheque, items, or property to a Resident Indian who is a relative, both giver and receiver are exempt from tax in India.

    • Hi Rajesh,
      Yes, You can first withdraw that amount from your account and then transfer it to your daughter’s account.

    • Hi Vishan,
      When an NRI gives gifts in the form of cash, cheque, items, or property to a Resident Indian who is a relative, both giver and receiver are exempt from tax in India.

    • Hi Sangeeta,
      Tax on Gifts depends on the relationship you share with them.
      If the giver is relative then, No Tax will be levied.
      But, If he is not your relative and gives the gifts then the Tax will be levied . The amount is added to the receiver’s income and taxed as per the income tax slab applicable to the receiver.

  • I am an Indian resident. I want to gift my daughter in law in USD who is green card holder in USA how much I can gift without facing any implication

  • Sir if a foreigner friend send a luxury items and money through courier and Indian friend deny to accept then is there any consequences

  • My son is holding other country passport and if he gets gift of cash money from a local a/c of deceased father can he take it in Nee or nro a/c

  • I will be recieiving gift money from my father of approximatel 50 lakhs for sale of business which i need to transfer overseas since its a gift i am not willing to pay any taxes. What is the best way to transfer the funds over and what documents will be needed?

    • Hi Karmjeet,
      the Money needs to be transferred in your NRO a/c and then from NRO to NRE A/c and then from NRE to your Foreign Bank Account.

    • The Documents required for the same are as follows:

      1. Indian Passport/ Voters ID/ Aadhar Card or any other Govt. Issued Photo ID Card of the sender
      2. PAN Card Copy of the sender
      3. Beneficiary Passport Copy
      4. Latest Bank Statement (if required, depends on the processing bank)

    • Hi Ganesh,
      It depends on the relationship you share with them. If you share a blood relationship with them then no Tax will be levied. But, When an NRI gives gifts in the form of cash, cheque, items, or property that exceeds the value of Rs. 50,000 to a Resident Indian who is a non-relative, the NRI gift taxes India is payable by the receiver. The amount is added to the receiver’s income and taxed as per the income tax slab applicable to the receiver.

  • can an indian wife receive money from nri u k based husband 30 lakh inr for buying agri land in india with paying gift tax .

  • I am buying a property in India as a NRI what is the best way , shall I buy just use my arhat and pan card to show am still a resident or buying in dads name and gift to NRI , as it’s agricultural land which we came to know later. For the future selling and transaction, which is the best.

  • My daughters 2 of them had PPF account extended before becoming NRIs , their PPF matures in 2023 . Can they gift the proceeds to mother or father without having to pay any tax by daughters and parents ,as PPF proceeds are EEE tax exempted .

  • I am a non-resident Indian living in the UK and I wish to make provision through my will to leave a resident Indian a sum of money. We are not relatives, just friends. My belief is that this is free of taxes for both me and the receipient as this is left through my will. Please can you confirm this, and also confirm if there is a limit to the amount in Rs or USD equivalent

  • My boyfriend sended me gift which is on the way to India it’s costing is 4000 pounds .. how much tax i have to pay in India

  • If my friend send me gift from abroad my friend told he already paid for courier fees.then after my gift reached india i need to paid for tax again or what

  • Hello Hemant, I looked over your gift deed format and article, and was wondering if it needs to be on a stamp paper or plain paper is fine. If stamp paper is needed is there any denomination that is recommended?

  • I looked over your gift deed format and article, very helpful. The detail that is left out is if it needs to be on a stamp paper or plain paper is fine? If stamp paper is needed is there any denomination that is recommended?

      • Thank you!

        So I assume for the financial assets the deed need not be registered with the Registrar while for real property they need to be registered at Registrar’s office. Am I right?

  • I am an NRI in Canada and my parents want to gift me around 35000 CAD in a financial year. What are the tax implications for them in India and for me in Canada.My parents are retired.

  • What is the maxmium amount an NRI in gulf country can send to his wife’s savings account in India ? Is there any limit after it is taxable ?

    • Hi MD Taslim,
      There is no tax implication for you or for your wife for transferring money from one account to another.

  • I wish to gift a property to my siblings in India. I am an NRI. Can I get the property registered to my siblings without having to travel to India?

  • I am an NRI since last 12 years. I have property in india. Can I gift it to my husband who is a resident Indian Pl?

  • i have plan to buy a property (around 50 lakhs but its documents value is below 50 lakh)from a resident..how can i give money to him my nre account…i mean through cheque or account transfer which is safe for me.

  • do nri person have to pay tax on money received in nro a/c.what is the tax implication on rarnings in nro account for nri in us

    • Hi Saroj,
      NRIs are liable to pay taxes on income earned in India.
      The earning received through your NRO account is taxable at 30 % plus applicable surcharge and cess

  • My real brother lives outside india, and us NRI. If he send money from abroad in my indian account no. Is it tax free, and also how much can i receive from my brother as tax free gift

  • Son nri and mother resident indian own jointly an apartment in Chennai. Can the son gift his share to his mother?

  • I am an NRI. My wife is in India. Now If I give him 20 lakh rupees in a year and she invest in FD. Now the income of this FD will be taxable to me or my wife?

    • Hi Prashantkumar,
      when you give Rs 20 lakh to your wife and she puts the money into fixed deposit and then interest will be added to your income for taxation, and you would pay taxes on that based on your tax slab. However if she reinvests this amount and earn interest, then the income on reinvestment will be considered as her own income.

  • I have to receive gift which is from England. So the person send me 10000 England currency as a token of gift. So how much amount I should pay to the company

  • As I NRI can I transfer excess of $30k fund to my father for purchasing house in India? Should I transfer through NRE account to avoid gift tax in India?

  • I am a NRI and want to gift my parents through bank transfer. How can I prepare a gift deed? do I need to get it signed by any authority?

  • Can a NRI based in Singapore gift shares to a non- Indian, non- relative based in the USA? What are the limits and tax implications

  • If an ILR of UK puts major share of his property in his brother name who is a Indian citizen then is his brother liable to pay tax in India or UK

  • I want to know If from INdia my relative send me money as gift whether they IN form to USA that this relative has sent money

    • Hi Shantakumar
      There is no ceiling on the money an NRI can send to relatives in India. This money, however, needs to be earned through legit means. You also have to pay the required taxes on this money in the country it was earned.

  • My Parents want to send me downpayment for a new house (first time home buyer) from India to Canada as a gift .What taxes/ penalties will we face ?

  • My question is that I am a NRI in Australia and my friend in India want to give a gift of 20000 aud or around 11 lakhs rs to meWhat are the tax liability on me as a NRI from India and what are from Australian tax office.And any tax implications will my friend will face

  • I am an NRI. I need a gift deed format for bank transfers done by my father to me as a gift in my Indian account. There are multiple transfers, so I am not sure how to go about it.

  • I am working in Dubai and planning to take a personal loan of INR 30,00,000. My Parents are both Senior Citizens. I want to split that amount and put Fixed Deposit of INR 15,00,000. on each of their name as monthly interest credit. So they have income monthly. Both have no other pension or income. Will there be income tax issue if I transfer this much amount to India

  • we brought the property in India but living oversea, I would like to give my property to my brother is there any tax/cost to be paid?

  • We 4 brothers inherited a property from our mother. I live in USA. One brother in india is buying the property. What is the best way to receive my share without paying taxes or least taxes in India.

  • Hi there.. My father in law wants send us Gift form India…its around INR45 lacs… we live in Austalia… can he send …what are tax Implications

  • I am NRI living in ireland. I would like to sell 25lakh worth of gold and transfer the amount to irish bank account. Should i pay taxes while sending the money…?

  • I am non resident Indian, could be European citizen soon. Can I receive property from my parents as gift. Do I need to pay any tax on the property/money I receive from my parents in India

  • I am an NRI, looking to gift a property I inherited, to my paternal uncle. Need the details & stepwise procedure on this please. Thanks

  • Last year I had transferred funds from my NRO account in India to my bank in Canada using Form A2, 15CA and 15CB. I am an NRI, and the amount transferred was in excess of 5 lakhs. I read that for amounts less than 5 lakhs, only Form A2 was required. That was also my experience during a prior transfer of less than 5 lakhs when I used A2 only.Yet your website states that Forms 15CA &15CB are only required for transfers of upto Rs 50000 per transfer or Rs 250,000 annually. Have the rules changed in this regard? Thanks Albert

  • can An OCI from UK gift property in India to his mother and what are the tax implication for him in united kingdom, though it is not taxed in india

  • i am resident indian. my son has settled down in Australia with Citizenship. He has 2 house properties. one is in his name where i live with my spouse. Another one is in his name ( first owner ) and myself Which has been let out. question 1 : Can i receive the full rent while i file IT return? a he is not filing IT Return in India and does not include this in Global income. that is his share of rent is teated as gift to me.question 2: if he wants to gift the two properties to me, what needs to be done question 3: Can we sell the let out property and transfer the funds to him? what is the limitation question 4: We have other properties. Can we sell and transfer funds to him or gift the properties & transfer the sale proceeds? what is the limitation and which is better?

  • I am Venkatachalam. I have already submitted the questions. Addded question : what is the procedure involved in gifting the property a) from Australia b) by Visiting India

  • Transfer all amount by oci from his resident account to a relative. Account has been held for a very long period without converting to nro.

  • My mom wants to send me gift (cash) to buy a house for myself here in Canada. In india, she will have to pay a gift tax because of the amount of money she is sending me. To avoid this gift tax, i was wondering if I can do the following: 1 – Open NRI account 2 – My Mom deposits the cash in my new NRI account 3 – I withdraw the deposited amount in Canada. My questions is – Is this a good idea? Will I still have to pay tax in Canada? Any other issues with this idea? If you could help answer this that would be AWESOME! Thannk you so much!

  • My own brother is US citizen and OCI he has a purchased residential property in India,.How can he transfer that property to me.

  • I have send to my son Rs. 16 lakh to europE by breaking fixed deposit, the interest received by me shown in 26AS & filed ITR since 2013. My questiin is where this gifted amount I shall show in my ITR I & get TCS deducted on this remittsnce to my son who is presently europian citizen.

  • Gift by NRI to Grand mother & Sister, Both Resident Indian. of Gold Bond by making payment thr credit card. Is it ok??? In this scheme NRI are not allowed to invest (in there name). Please guide

  • Hi

    If an aunt ( mother’s sister) who is Indian citizen and Indian resident wants to gift 5 crores in cash via bank transfer to indian citizen ( neice) who is non -resident and has no property income or tax file in India for the last 30 years. what is the implication for taxes for receiver and what are the papers required?

  • If i send money to my parents india for their maintenance, do they have to file income tax return? Or they dont have to file return at all?

    • dude i am sending 800k to my dad .. i had to give a letter of gift report and the cheque from Chase manhattan.. he got taxe 45 percent .. your 1.2 will be 42 percent

  • I’d like to know if I, as a US citizen, can gift cash $ or US securities into my brother’s foreign account with a US brokerage and have this gift be considered tax-free in India in the same way my gifts to their Indian bank account is considered. What formalities would I have to follow? I’d appreciate very much if you could point me to some references, in Indian tax laws. As you can understand, I need to establish the true facts.

  • My Daugher is working and living in Newyork and we parents living in Bangalore India, if my daughter sends money to us for construction of first floor exosting house is US Bank Charges my daughter for transfering money to us in India?

    • Hii Raghavendra
      As far as I know the bank might have deducted the currency exchange charges and for clarification you must contact your bank branch

  • I am a resident alien in the US and my parents are Indian citizens living in India. How much cash can they gift me in a given year such that I do not have a tax burden as a receiver of the gift

    • Hii Shyam
      As per my knowledge, the gift from the parents to son are exempt from tax but cash gifts that exceed Rs. 2,00,000 can be subject to penalty

    • Hii Mr. Ashok
      As far as I know their will be no tax liability but cash gifts that exceed Rs. 2,00,000 can be subject to penalty. Ensure that you get the relevant gift through cheques or bank account transfers.

    • Hii Sowrirajam ji
      When an NRI gives gifts in the form of cash, cheque, items, or property to a Resident Indian who is a relative, both giver and receiver are exempt from tax in India.

  • My husband is NRI .he owns a plot.can we get it trasferred to my elder daughter .can this happen while he can’t come to India…

    • Hii Sabhia
      As per my knowledge you can use gift deed to transfer the property but your daughter need to come to India to register the property transfer with the registrar within the gift giver life time

    • Hii Vivek Ji
      There is no restriction for OCIs to get agricultural land, plantation property, or farmhouse as a gift from the person resident in India.

  • Hi ,my gift is purse or perfume from usa. Its cost is 11000…its paid or fedex also paid 178 dollar .all of these paid by my sister but in india bhopal.they said send 11000 ruppes for gst

    • Hii Ramesh Ji
      When an NRI gives gifts that exceeds the value of Rs. 50,000 to a Resident Indian who is a non-relative, the NRI gift tax India is payable by the receiver. The amount is added to the receiver’s income and taxed as per the income tax slab applicable to the receiver.

  • I was born and brought up in India married an American citizen 35 years ago my dad gave me land shares house marriage gifts how can bring to usa

  • My one friend has arrived at Delhi international airport from London & she wants to deposit Rs 7000000 lacs in my account but she is detained there & authority is demanding tax from me Till this time they have taken 500000 lacs from me I M INDIAN Please clarify

    • Hii Mr. A.K. Chaudhry Ji
      As far as I know, gift from HUF to any member of the HUF is not exempt from taxable income. It is other way that the gift from member to the HUF is exempt from tax.
      It is better to take advice from tax consultant

  • My son is staying in London. I am a resident Indian. My son has taken citizenship there. I wish to give some money to my son for purchasing a house for him there. What are the basic rules and restrictions and taxation policies?

    • Hii Sorav Ji

      As per my knowledge, when a resident Indian gives a gift in the form of cash, cheque, items, or property to an NRI who is a relative, both giver and receiver are exempt from Gift tax in India.
      It is suitable to take advice from a tax consultant

    • Hii Mr. Neeraj
      As per my knowledge when a resident Indian gives a gift in the form of cash, cheque, items, or property to an NRI who is a relative, both giver and receiver are exempt from Gift tax in India.

    • Hii Pringchi
      As per my knowledge gifts sent in the form of cash, cheque, items, or property that exceeds the value of Rs. 50,000 to an NRI, who is a non-relative, the India gift tax NRI is payable by the receiver
      It would be suitable to take advice from tax consuktant

  • i am a resident of france and i have my property in india, can i sell my property and give the money to my childrens who are french nationals and live in france,and do they have to pay any tax on money they receive.

  • I am a us citizen born in india but my parents want to gift me money and we dont know if we could open a NRE account and if my parents could transfer money in that NRE account?

  • NRI son wants to transfer an amount to resident parents to buy property in the name of the parents. Want to know implications of tax in india?

    • Hii Hiren
      As far as I know their would be no tax implication for you as their is no limit on the amount transferred as gift to the parents.
      Here you may consult a tax consultant for most appropriate solution.

  • I want to gift some money to a nro account I am an Indian resident what purpose should I select. Bank is asking rent ?account legitimate rupee.

  • I have an OCI status. An Indian crowdfunding company raised money for my sister who lost her husband to covid. (Friends had created the fundraiser). My sister wants me to manage the money by making me the beneficiary directly. If I have an NRO account and receive the money from the private limited company to my NRO account, how much tax would I owe in India for the receipt of the money raised. I have no other income in India. The amount is 50 lac rupees .

  • i am an NRI i wish to send my father Rs 10 lac to his account in india , will it be taxable income for him under income tax rules

    • Hii Mr. Rohit
      As per my knowledge, when an NRI gives gifts in the form of cash, cheque, items, or property to a Resident Indian who is a relative, both giver and receiver are exempt from tax in India.So it may not be a taxable income.

  • I am indian. If i sell my agricultural land how much maximum money i can send to my children who are living abroad / in London without paying any tax. Please advise . Thanks

  • I have following questions.
    1) My parents wish to send money to me, amont is gather than 7 lks, how can I avoid 5% recent tax placed above 7 lks under Lebralized scheme

  • Whether income tax payable on money to be sent to son in foreign country as gift to close relative in view of amendment of 5th July 2019

  • I am an NRI (Citizen of Finland now) and if I receive a cash amount worth 100 K Euros in the form of cheque from my parents as a gift, will I have to pay gift tax in india?

  • I have following questions. My parents wish to send money to me, amont is gather than 7 lks, how can I avoid 5% recent tax placed above 7 lks under Lebralized scheme

    • Hii Dhanesh
      As per my knowledge the 200000 received as gift would be taxable as friend are not included in definition of relative as per Income Tax Act.
      It is better to take advice from CA

  • My parents passed away and the property they were renting came to us . I am a Nri would it be a gift or I have to Pay Nri tax when taking rent .

  • My late mother owned a house in India. My brother lives in that house. What is the procedure of transferring my share to my brother?

  • I am an indian and would like to send money to my son and grand son who are us citizens and living in usa. Will this gift money is taxable in india?

  • My daughter is staying in USA my brother in law want to gift a flat in Bangalore at time of registration she should come to India if she ca not come now who to register giftdeed in her name

  • My son who is a UK citizen wants to gift Rs. 5 lakh from his NRO account in India . Will I have to pay tax for it ? Thank u .

  • I want to buy a car of Rs.18.00 lacs from the amount to be remitted as a gift by my daughter who is NRI (In US). Is there any complication or tax implications?

  • An australian citizen having property in India, makes a gift deed to an indian, is the Australian has to pay taxes for gifting hisproperty inindia

  • My son who is German citizen & now having his own starts up in San Francisco. He has also applied green card which is already approved. He wants to gift equity shares which is holding to his parents in India. I want to know if it is possible, if yes HOW?

  • Want to collect money as gift from India, just want to know is that taxable? its the same money which I have sent to my mother as gift.

    • Hii Queen
      Gifts in the form of cash, cheque, items, or property to a Resident Indian who is a relative, both giver and receiver are exempt from tax in India.
      Gifts in the form of cash, cheque, items, or property within Rs. 50000 to a Resident Indian who is a not a relative, both giver and receiver are exempt from tax in India.

  • I wish to open a JOINT indian saving bank account, me the father/mother resident as first name joint with son who is oci(us resident Can we.?Who will be responsible to pay taxes on intetest etc