Income Tax for non-cash gifts effective from October 1, 2009
Introduction
You have to pay the tax for the gifts received, if it is from the non-relatives. There is no tax if the gift is given by the relative. The following section will explain the clear meaning of relatives in the Income Tax perception. Also there is no tax if the gifts are in any kind [...]
NRI status for Gift Tax
Introduction
In this article I will be writing about the one of the important point regarding sending the gift as NRI and how long one has to maintain the NRI status to avail the gift tax exemption. This article explains the same. Read this article to know more about the NRI status. Please subscribe to our articles [...]
Income Tax Exemption and Rules on Gifts as Income of Source
Introduction
In this blog I will be writing about the Income Tax rules related to the Gifts received by a person. There is many rules on receiving the Gifts based on the gifts nature and from whom the person has received the gift. The Income Tax Act 1961 has made change to the rules in 1st [...]
