Gifts
Are Monetary gifts received from abroad liable to Tax?
Are monetary gifts received from abroad liable to tax?
By  Sameer Kedia  |  12 Aug 2016  |  Upvotes: 2  | 

1 Answer(s)

Tanushree Sharma
Advocate

If the aggregate value of monetary gift received during the year by an individual or HUF exceeds Rs. 50,000 and the gifts are not covered under the exceptions prescribed in the preceding FAQ, then gifts whether received from India or abroad will be charged to tax.​​

Upvotes: 1  |  Downvotes: 1  |  Comments  | 
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