|
Tax4india ›› Income Tax ›› Non-resident Under Income Tax Act ›› Gift Tax For NRIs
Gift Tax For The NRIs
Gift tax has been abolished on gifts made on or after 1-10-1998.
No investigation about an NRIs capacity to make gifts: The government would not enquire about an NRI capacity to make gifts. However the gifts must be genuine and the donor/donee should also be genuine person. It is immaterial whether the NRI has paid income tax on his gift to a resident in India to the country where he is residing. Use by a regular banking channels under fema/fera can determine the genuinely of the gift.
| 