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TAXATION OF GIFTS RECEIVED - Here Are The Things You Need To Know

NRI Money Clinic 37 views

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Daughter in law ( Forien citizen) if gift money to Mother in law who is Indian Citizen is it taxable both under gift tax or income tax tax law ??
Comment from : @PAPatil-vr3qz

What s about daughter in law ??
Comment from : @PAPatil-vr3qz

Excellent video Thanks for the same I am hoping you can clarify one point I am an NRI and I am expecting a gift of Rs 20 lakhs from my sister, which will be from the sale of a flat which was in her name The flat originally belonged to my mother This will be a gift Since this is a large sum will be be added to my income in India I do get dividends from some of my investments or will it be treated separately as it is a gift So will I have to pay some kind of tax since it is quite a large sum Thanks
Comment from : @loydsouza3504

Can the Gift money be deposited in the NRO account?
Comment from : @jatinderahuja2212

Sir what needs to be done when the immovable property is given as gift jointly to NRI and a resident?
Comment from : @b1njax

Excellent video explaining about gift to our relatives
Comment from : @sunitathakur7713

Hello - Very informative series Appreciate the thoroughness A question related to Gifts from Relatives If I receive a cash gift from a qualified relative What are my options to repatriate it? Should the relative transfer funds to my NRO and than I either transfer to NRE and subsequently repatriate it? Or, can the relative directly transfer to my NRE account? Thanks again!
Comment from : @sudhirpattath5214

can a nri receive agricultural land situated out side India as gift ?
Comment from : @jagadishraomr5313

Sir, Can an OCI holder NRI doesn't have any income and PAN receive gift in US by LRS scheme?
Comment from : @satviklifestyle

Does donor need to present in india for signing gift deed
Comment from : @wordsforlife316

Thank you What about the registration duty payable on transfer of property as a gift between relatives? Is that payable or waived? Also please clarify the capital gains tax incidence on transfer of property between relatives Thanks and Appreciate
Comment from : @sadagopannarayanasamy806

Can I gift cash to my son-in-law on behalf of my daughter who has no account in any bank in India
Comment from : @mahsin123

Sir I have a question house owned by my father in India and he can sell and gift the money to the son who is on US and there is any tax when father transfer to uS
Comment from : @thomas9469

Very good video sir Questions were well organized and asked Cleared all my doubts Thanks a lot
Comment from : @unnimk75

If I receive gift of 25 lakhs from non relative how much tax I need to pay and if there is no other income
Comment from : @satviklifestyle

Anyone made international transfers to India using Wise/Remitly/etcbrbr1 How do you procure FIRC certificate for non-business transactions? Is this mandatory? brbr2 How do I know if my transaction follows MTSS or RDA remittance method?(I'm concerned MTSS has a $2500 limit per transaction but my bank is not showing any limits while transferring)
Comment from : @Rix1221

Thank you for this detailed information God bless you
Comment from : @vidyarao7930

Thank you sir, very helpful and informative
Comment from : @manjularao4206

Hi Sir, My parents gift my toddler who is NRI I understand no tax implications on this case Does interest earned on this gift over years needs to be clubbed under my income or it can be considered seperately as my minor daughter's income?
Comment from : @ksk8080-d6d

Thanks a lot sir for this wonderful video, clarifies lot of doubts, btw is there any provision to declare the gift received while filing IT returns?
Comment from : @sadashivats

If the gift is given by the employer to the employee in the form of gold or vouchers upto value of Rs 50,000/-, is it taxable?
Comment from : @vinolife

Excellent video with ALL questions answered very clearly
Comment from : @venkateshrb5284

My 3 year old daughter is an Australian citizen And he is OCI holder I have paternal ancestral land which we got from generation to generation Can I transfer my land to my daughter's name? Please let me know how to get the land transferred so that he does not face any problem in future
Comment from : @rabirandhawa3555

Is it correct that cash and movable property can be gifted and the requisite document evidencing proof of the fact of gift can be on plain paper ? The CA appeared to have said so
Comment from : @jacobzachariah9756

Very nice video
Comment from : @pramoddsinghful

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Comment from : @purnabandi

Hallo Mr Bhatt n Mr Rao, how can I prove my sibling relation with my sister, she's above 80 yrs n has no birth certificate or school leaving certificate Is this possible by writing an affidavit I have been staying in Germany for almost 40 yrs n have no rationcard with herbrI will feel highly helped for ur advicebrThanks in advance
Comment from : @khajuriaarun8874

Hallo, Sir, if the gift is immoveable or moveable like bank transaction from resident indian to NRI in his foreign a/c or NRE or NRO , what would be the Tax percentage brThanks in anticipationbrOm Shanti
Comment from : @khajuriaarun8874

Thanks for your help and support for NRI Community
Comment from : @AshokKumar-2113

Excellent
Comment from : @dineshkumarsharma3710

What are the tax implications of an NRI brother gifting to a US citizen sister: br- Gift is money (through fund transfer) br- from funds based in India, which have been earned in India br- Funds will be transferred from Indian bank account to US bank account through wire transfer br brWhat are the tax implications (under Indian law) on the donor and the donee?
Comment from : @dranuragz

How does this contrast with clubbing of income u/s 64 of IT?
Comment from : @sunilj10

I am an NRI with plans to return to India in the coming years I want to have agricultural land but because of my status as of now, I can not buy that Is it possible for my father or brother to gift to me?
Comment from : @rajeevsingh-zw7qr

Sir any rules for NRI giving gift or money to resident Indians?
Comment from : @praveenvarma1369

Hello sir , Gift from NRI relative upto us $ 14000 is exempt from tax ,whether the person receiving gift from NRI is shown in his return of income as gift Since in India gift from relative is exempt from tax under section 56 (2)(x) Please suggest 🙏
Comment from : @aasthasingh5006

please let me know tax liability in U S A on receiving funds from father and mother from India
Comment from : @avatarprintpack1944

Great video sir Thanks for sharing this As a token of respect as a viewer, I don't skip ads for your videos
Comment from : @ajaxtyson

Can OCI's buy converted land of say 50 cents or 1 acre or stick to only flats or bungalows
Comment from : @tourist3066

Very informative, sir I have a question Does a NRI( residing in USA) receiving a cash gift from a relative in India has to pay any tax? If yes, is there a threshold limit? Thanks
Comment from : @amarjitbajaj2075

Is gift in the form of money through cheques/transfer through banking channel requires evidence in writing on stamp paper? brbrDoes the document needs to be registered by paying stamp duty? brbrIf yes, how much stamp duty is required to be paid?
Comment from : @ranganathrajachari5921

How to show in ITR funds reced from NRI son through nre bank account to my account in india?
Comment from : @narayanannair3910

What is eKYC? Does the number change once person changes citizenship? & do we need to update changes in KYC website too
Comment from : @kayceechavez4517

Sir,brI am an NRI If I transfer 10 lakhs to my daughter account, 10 lakhs will be treated as income for her in that financial year for tax computation for that year?
Comment from : @alagarsamykannan9309

Thankyou sir
Comment from : @shakeelrather6340

How do we as NRI account in income tax for inheritance money received as a FD nominee left by deceased parent? It was transferred by parent's bank to NRO account
Comment from : @copysanjay

I am CA Kiran Kanani from Pune I attended your webinar on GIFT It was very elaborate and helped a lot in understanding the other related issues brMy question during the session was on clubbing provisions U/Sec64(2)Co parcener converting his individual property into HUF and subsequent issues of clubbing provisionsas per sec 64(2) brLegally the capital gain should be clubbed in his hand on sell of the said property by HUF brCan the benefits of Sec 54F be enjoyed by HUF or the said individual if his name is added , when HUF buys a residential property and HUF and the said individual become joint owner of the new residential property brPlz guide
Comment from : @kirankanani5359

How much money I can transfer in my wife account
Comment from : @NarinderSingh-wh2fs

Mr Bhat & MrShriram your NRI related videos are very informative and helpful Thank youbrI am gulf based NRI planning to return soon What are the implications of transferring my part of my NRI funds transfer to my daughter who is recently become NRI after completing her studies in Australia & employed Can I prepare FCNR deposit in her name
Comment from : @sandoc3521

So if an NRI becomes a regular Indian resident can he / she buy agricultural land?
Comment from : @sumanjacob4509

Excellent information Many thanks
Comment from : @sundieepsiingh9697

As usual useful video Waiting for the video on how NRIs can invest in the Indian stock market as the process is not straightforward So, I am looking forward to that Thank you!
Comment from : @motivationshortsadda

Thanks, good information
Comment from : @rambond7539

Section 64(1)(IV) income earned out of income transferred by husband is treated under clubbed income of the husband on FD interests and sale of property brbrBut I cannot find profits from Mutual Funds CG or stocks, under this category of clubbed income of the transferrer !brbrPlease help and clarify brbrThanks in advance 🙏
Comment from : @harishenanchinnathambi9030

Well explained Thanks Best wishes in your endeavour
Comment from : @venugopalansekharan3367

When a NRI send money from USA to his self account in india will it attract gift tax in USA ?? Is there any limit for such a remittance??
Comment from : @maniiyer2413

Very very clear explanations about gift tax and its implications in IT act and FEMA Tks for sharing
Comment from : @sampathr2

I understand that you can't gift to your spouse Is it true
Comment from : @sadasivasarma6895

Can a mother (73 yrs old- widow with family pension source) buy a property in India with the gift-source of big sum gifted from her daughter-(NRI) w/o making any gift-deed as per IT Act?
Comment from : @rajagopalanjayakumaran7110

Can a NRI send money to his/her parents through NRE account? Will it be taxable for parents? I am sure you will never reply but still I am making attempt
Comment from : @rsgauba7401

Excellent video Thanks!! Perhaps if you make PPT and explain by way of a tree diagram, ideas may be more clearly and easily expressed CA Sriram can talk like a Professor giving PPT based lectures to his students! You are showing a few slides in between but they contain text covering definitions only
Comment from : @surendrabarsode8959

HUF can gift to their co partioner ?
Comment from : @manmohanarora8064

Very informative video
Comment from : @johnsondavid3867

Very informative as alwaysbrSir one querybr-do in-laws comes under relatives?
Comment from : @shreemoydash7426

Can bank statements be considered as a proof for cash received/sent, from/to the relative?
Comment from : @manojumaeku

As usual, clear explanation Thanks sir 🙏🏼
Comment from : @gopikrishnanjayaraman1550

Dear Mr SrirambrMy g Mother passed away while I was a minor of just 7 years old and made me nominee to her FD I am NRI due to my mother live abroad My natural mother took charge of the amount and made seperate NRO FD account Doesn't this amount received by my g Mother become a gift? So when we opened NRO account why TDS by our bank? Besides for tax filing being a minor, my account blocked with IT and as a result could not claim taxes deducted Pls advise
Comment from : @zeebsz320

Simply put can we say Blood Relatives of self and spouse are exempt from gift tax! How about uncles, aunts cousins, nephews, nieces Grandchildren, Grand nephews, grand nieces?br?
Comment from : @rambaskaran1729

Crystal clear explanation
Comment from : @ragavendars

Sir please make a video on tax treatment on rental income received from overseas properties by a resident Indian Will the income be considered as rental income with allowable deductions?
Comment from : @suvobrataghosh2540

Can husband give gift to wife and vice versa
Comment from : @ashokjain2950

Sir, your videos explain topics with extreme clarity Thank you
Comment from : @6710rohit6710

Would the income generated out if the gift funds taxable in subsequent years?
Comment from : @pbvrajan5623

I have received one lakh from my mother in law through NEFT, how can it be treated as far as income tax rules are concerned? Kindly guide me, Your generous reply is awaited
Comment from : @mrinalkantisaha781

Can a NRI send money to parents, who can buy property on NRI? Does this property sale deed attracts tax of NRI category like 28
Comment from : @sathishkumarshanmugavel673