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
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.
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.
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.
My son is an NRI settled in US. Wish to give him 2 Lakhs as Deepavali gift. Is there need for him to file Income tax return in India?
Can NRI individual gift a cheque to father-in-law?
I am an NRI, can I send money to my parent’s account and can I invest in equity investment with my parent’s Demat account?
What are the compliances for a gift of £200000 to be given to me by my mum? Can she transfer it directly to my UK account?
My son who is NRI London wants property to be a gift to his mother what is the tax implication in London and India? The price of property is about 1crore.
Gift received from father’s brother NRI plus US citizen in foreign currency taxable or not
I need money order for Indian Rupees 25,000 to give as gift
I am NRI and wish to transfer shares worth 50 lakhs to my resident mother. I need to know the tax implications.
No tax implications.
i have a property in india as an nri can i give this land to my sister as a gift in case if she sells it do i need to pay 20% tds please advice
I am an NRI living in middle east. my mother wisher to gift me shares from her resident DEMAT account to my NRO account and my queries: one, is there a tax implication for her or me. two, is there a limit for value of shares ?
I am NRI in UK and I want to sell a property in India and gift the entire earning to my sister who will buy her house from this property… Do i need to pay tax
Hey Tushar,
As an NRI selling property in India, you may be subject to taxes on the capital gains earned from the sale. However, gifting the proceeds to your sister does not exempt you from potential tax liabilities. Both you, as the seller, and your sister, as the recipient, may have tax implications based on Indian tax laws.
can a NRI money gifted to his son who is also NRI
Hey Amar,
Yes, an NRI can gift money to their son, who is also an NRI, without any restrictions. However, it’s essential to consider the tax implications and regulations of both the home country and the country where the funds are received
I am nri and trasnfer money from my nri account via internet banking around 20 lakh during last FY20220-2023 to mother in law.How do i make gift deed and ensure as a proof as gift
Hey Jagannath,
To create a gift deed, you can consult a lawyer or a notary public. Include details like the amount gifted, purpose, both parties’ details, and intent. Ensure the deed is duly signed, stamped, and registered as per legal requirements. Keep transaction records, including bank statements, to serve as proof of the gift transfer and its purpose.
How much money NRI gift to relative without tac
Hey Sudhakar,
In India, there’s no specific limit on the amount an NRI can gift to a relative without tax implications. However, tax implications can arise based on the recipient’s relationship and other factors.
My daughter in us wants to gift me to pay her education loan.Will there be any tax if u receive the money in my bank account.?
Hello Natarajan,
In the United States, gifts between family members are generally not subject to tax. If your daughter gifts you money to pay her education loan, it’s typically not taxable income for you. However, ensure it’s documented as a gift with a clear purpose to avoid any confusion, and consider consulting a tax advisor for personalized guidance.
If I receive 40000 inr + 45000 inr as gift from a non relative in my NRO account will it be taxable
Hey Gaurang,
Gifts received from non-relatives in an NRO (Non-Resident Ordinary) account in India can be subject to taxation. The combined sum of 85,000 INR may be considered taxable as it exceeds the tax-free limit for gifts from non-relatives in India, which is currently 50,000 INR per year. It’s advisable to consult with a tax expert for accurate advice on the tax implications.
Can nri donate a property in india
Hello Bharath,
Yes, an NRI can donate a property in India. However, certain legal and tax implications need consideration. Donating a property might involve complying with Indian laws, such as the Transfer of Property Act, and could have tax consequences.
Can i make payment from my NRE account to purchase a residentail property in india but it will be registered under the name of my wife and mother? is it possible without any issues regarding ITR rules?
Hello Bharat ,
In India, using funds from your NRE (Non-Resident External) account to buy a property registered in your wife and mother’s names might not pose immediate issues concerning ITR (Income Tax Return) rules. However, it’s essential to establish the legal ownership structure clearly to avoid potential income tax complications or scrutiny.
I am an OCI living in Australia. I send money to my mother in India. Does she need to show that remittances in her ITR? If yes then under what head? Further, she do trading with that money and have only losses. Does she need to show those losses also in her ITR? Please assist.
Hey Nishant,
If your mother in India receives remittances from you, it’s not necessary for her to show the money in her ITR (Income Tax Return) as it’s considered a non-taxable gift. However, if she engages in trading activities with that money and incurs losses, she should declare those losses under the ‘Capital Gains’ or ‘Income from Other Sources’ section while filing her ITR to reflect the financial transactions and losses accurately.
Can gift deed of property from Indian parent to US Citizen/OCI child be executed when both are currently in the USA?What is the process and how much time it would take?
Hey Jaya,
Yes, a gift deed for a property from an Indian parent to a US Citizen/OCI child can be executed when both are in the USA. The process involves drafting the deed, getting it signed and notarized, and then attested at the nearest Indian consulate. The time taken can vary depending on consulate procedures, but it generally takes a few weeks to complete the process.
Can I make payment from my NRE account direct to the seller to buy a residential property in india, but it will documented in the name of my wife and mother who are resident indian, is there a problem or violation of nay ite law?
Hi BBS,
Yes, you can make a payment directly from your NRE account to the seller to buy a residential property in India. NRE accounts are designed to facilitate easy repatriation of foreign income and are meant for NRIs to manage their income earned abroad and in India.
How much money can a citizen of India gift a Friend who is an American citizen? and is there any tax involved.
Hi Angela,
The limit for non-taxable gifts from non-relatives was set at Rs. 50,000 annually. Gift tax is typically the responsibility of the recipient. However, if the recipient is a non-resident, they may not have any tax liability in India, depending on their tax status.
What is the tax implication for NRI for receiving stocks from Indian parents?
Hi Ajit,
As an NRI, receive stocks from your Indian parents, there is typically no gift tax liability in India.
NRI wants to gift transfer his flat to mothers sister. The flat which he was inherted by will from grandfather (mothers father)
Hi Advocate Dattatraya Mallikarjun Kore,
The NRI will need to execute a gift deed to transfer the flat to the mother’s sister. The gift deed should be drafted in accordance with Indian laws and should include all necessary details of the property, donor, and recipient.
Can Son who is resident Indian can buy a property in uae in his name with the help of parents
Hi Varun,
Yes, a resident Indian, including a son, can purchase a property in the UAE in their name with the help of their parents. but they need to maintain their resident status in India as well.
Can multiple people send money to me in Australia as gifts including family members, relatives and friends?
Hi Pradeep,
Yes, multiple people, including family members, relatives, and friends, can send you money as gifts in Australia. There are generally no restrictions on receiving gifts from individuals, and gift transactions are not subject to income tax in Australia for the recipient.
A co worker has died and team in USA would like to give money to his family in India. How can we do this?
Hi Charlie,
First, reach out to the family of your deceased co-worker and confirm their willingness to receive financial assistance. After that, Sending money to the family can be done through various methods like international bank transfer and online Money Transfer Services. You can also send a bank check or demand draft.
Can i gift 1cr to my mother. I am NRI
Hi Sneha,
Yes, as an NRI, you are generally allowed to gift money to your mother, and the amount you mentioned, 1 crore, can be gifted without any income tax implications for your mother in India.
I am in US and want to gift $25,000 to my brother in India. Are there any tax consequences for him in India?
Hi Darsh,
your brother generally won’t have to pay any gift tax in India on the amount received. This is because gifts from specified relatives, including gifts from a brother to a brother, are generally not subject to gift tax in India.
Sir, Non resident who is a brother to Indian resident brother gifted $ 100000 dollars, shall Indian resident brother can lending to educational Society with free of interest, after one year he takes back gifted money and he can gives a gift to his Non resident brother. Rambabu Nagalla.
Tax implication on cash gift from Indian grandparents to USA citizen grand daughter
Can mother in law from India gift money to her daughter in law who is pr holder in canada
Hi Padmaja,
Yes, a mother-in-law in India can gift money to her daughter-in-law who is a Permanent Resident holder in Canada. Canada generally does not impose income tax on gifts received by individuals. Therefore, the daughter-in-law should not have to pay income tax on the gifted amount.
If a doctor from london send a gift to an Indian lady then what will be the procedure to receive the gift and how much tax have yo pay.?
Hi Krishna,
India had a gift exemption limit of INR 10,000 for gifts received from abroad. Gifts valued below this limit were typically exempt from customs duties and taxes.
Does NRI have to give gift to blood relatives from account outside India only or the money can be transferred from NRO account as well?
I want to gift my property in India to my mother, so that she can take care of the sales and transactions later point in time. I want to know the tax, while gifting and after that selling
Hi Suma,
In India, there is no gift tax applicable when a property is gifted to specified relatives, including gifts from a son to a mother. When your mother eventually sells the property, she may be liable for capital gains tax in India.
Hi I want to give a gift worth CAD 20000 to my brother in india. Is it taxable
Hi Bino,
If you are a resident of Canada and you want to gift CAD 20,000 to your brother in India, there should generally be no tax implications for you as the donor. Canada does not impose a gift tax on individuals who make gifts to family members or other individuals.
My father based in India wants to cash gift some money in my UK account. Has any rules changed recently which means he needs to pay some tax on this remittance?
Hi Prashant,
If your father, who is based in India, is gifting you money, it should not be subject to income tax for your father.
Want to buy a property in India. How to transfer the money to the seller to minimize tax implications on transfer of money
Hello Aman,
Utilize Non-Resident External (NRE) or Non-Resident Ordinary (NRO) accounts to receive and hold funds. NRE accounts are tax-free, while NRO accounts have some tax implications.Abide by Reserve Bank of India (RBI) guidelines for property transactions and repatriation of funds.Check Double Taxation Avoidance Agreement (DTAA) provisions between countries to mitigate potential double taxation. Maintain proper documentation for the funds’ source and property transaction to justify the transfer’s purpose.
My uncle( chacha) has gifted me money can i transfer it outside india without any problem?please let me know thank you
Hey Naveed,
As an Indian resident, you can transfer the gifted money from your uncle (chacha) outside India without any problem, subject to certain limits and regulations. Under the Liberalized Remittance Scheme (LRS) of the Reserve Bank of India, individuals can remit up to a specified amount annually for various purposes, including gifts. As of my last update in September 2021, the LRS limit was USD 250,000 per financial year.
Can I gift to my son money in his NRO account in India
Hey Ashok,
Yes, you can gift money to your son’s NRO (Non-Resident Ordinary) account in India. As an NRI (Non-Resident Indian), you are allowed to make gifts to your relatives, including your son, in India.
Property is situated in west bengal kolkata. Sister who is ill living in japan wants to gift her undivided share in the property to his brother who lives in london. How to do it?
Hello Arpit,
To gift the undivided share in the property from the sister in Japan to her brother in London, they must follow the process of executing a Gift Deed. The sister should prepare a Gift Deed with the details of the property and the transfer to her brother. The Deed must be signed and notarized in Japan. The brother in London will then need to have the Gift Deed attested at the Indian Embassy or Consulate in London. Finally, the executed Gift Deed should be registered with the Sub-Registrar of Assurances in Kolkata, West Bengal, to complete the transfer legally.
Any tax on cash from resident father to nri son & nri son wants to send to australia?
Hey Human ,
There is no tax on cash received by an NRI son as a gift from a resident father in India. Gifts from a close relative, like a father, are generally exempt from income tax in India. However, when the NRI son sends the gifted cash to Australia, he may need to consider the tax implications in Australia, including any currency conversion charges or potential taxes on foreign transfers.
I have received gift money from blood relative in Canada. Under what clause should I seek exemption?
Hey Param,
You can seek exemption for the gift money received from a blood relative in Canada under Clause 5 of Section 56 of the Income Tax Act, 1961. This clause provides an exemption for gifts received from specified relatives, which includes blood relatives. Ensure that you maintain proper documentation and comply with any reporting requirements as per income tax regulations.
Ruling on gifts to non resident relatives
Hey Sanjay,
As of my last update in September 2021, gifts to non-resident relatives by Indian residents are generally allowed and exempt from income tax in India. Indian residents can gift money or other assets to their non-resident relatives (as defined under the Income Tax Act) without any tax implications in India.
I recently moved to US, and i want to send funds to my account in India, but i am confused if i can do so
Hey A Sharma ,
Yes, as an NRI (Non-Resident Indian), you can send funds to your account in India from the US. You can use various methods, such as wire transfers, online remittance services, or NRI-specific banking channels to transfer money to your Indian account. Ensure that you comply with all relevant regulations and reporting requirements, and consider using reputable and authorized channels for the transfer.
I have given a gift of Rs.10 lakhs to my child’s spouse,who is an NRI, in last financial year,in his bank account in India.Is this amount taxable for the receiver and the giver?
Hey Rubsin,
The gift of Rs.10 lakhs to your child’s spouse, who is an NRI, is not taxable for the receiver (NRI spouse) in India. Gifts from a relative are generally exempt from tax for the recipient in India. As the giver, you are not liable for any tax on the gift, as gifts given to relatives are not subject to tax in India.
Gift received through cheques/ neft the document can be in plain paper and notarised or in a stamp paper and notarised
Hey Venket,
The document for the gift received through cheques/NEFT can be in plain paper and notarized. It does not necessarily require a stamp paper. The notarization adds an additional layer of authenticity to the document, making it legally valid as evidence of the gift transaction.
I want to send Rupees 2 chrores to my NRI son in USA to buy a house. shall I have to pay tax on it?
Hey Ramesh,
sending Rupees 2 crores to your NRI son as a gift to buy a house should not attract any tax liability for you in India. Gifts from a resident individual to an NRI relative are generally not subject to tax in India. However, it’s crucial to comply with the Foreign Exchange Management Act (FEMA) regulations and report the gift transaction to the appropriate authorities, such as the bank through which the remittance is made.
MY Daughter who is an nri in us wants to purchase agricultural land. Can she and what are the problems
Hello Jethareddytella,
As an NRI, your daughter cannot directly purchase agricultural land in India. NRIs are generally prohibited from acquiring agricultural land, farmhouse properties, or plantation properties in India. However, she may inherit agricultural land through a gift or inheritance, subject to certain conditions and restrictions.
I want to gift some amount to my NRI brother by taking loan on FD. Can he transfer this gifted loan amount to abroad?
Hey Kushal,
Yes, your NRI brother can transfer the gifted loan amount to abroad if it is given as a genuine gift without any expectation of repayment.
Is gift to mydaughtera us citxen will be taxable in usa?
Hello Birendra,
Gifts from a parent to a U.S. citizen child are generally not taxable in the USA.
How much money can I gift my father in law
Hey Suresh,
You can send money upto50000.
I sent money from US to India to my dad to buy land for him but now hes dead and want to bring back the money or whatelse can be done to avaoid paying taxes and unwanted trnasfer fees
Hey Krishn,
If you have already purchased the land and plan to sell it, you will need to pay taxes based on the Indian tax rate framework. The tax liability will be determined by factors such as the holding period, type of asset, and applicable tax laws.
My mother wish to give a gift money worth 15000euro.I live in ireland and she is in India.Do i have to pay tax after rexeiving gift from my mother.how much indian rupees can be transferred to Euro?
Hey Sandeeplal,
Your mother can transfer unlimited amount as gift money
My son in law an NRI sold a site and LTCG tax has to be paid, can he get threshold exemption of 250000
USA citizen gifts his inherident house property to his Indian citizen wife in Andhra Pradesh clarify TDS
Money transfer from my foreign bank account to my brother’s Indian Bank account is taxable or not
Is there a tax amount for withdrawing cash as a gift out of India?
Hey Mohamed,
No, there is no tax amount for withdrawing cash as a gift out of India
Some one send gift, from foreign USA, here they are asking money to pay, why
My sister a US citizen wants gift me US company shares to me. What is the procedure
I am an Indian living in Gurgaon. I have received GBP 10000 in my Bank account in India, under a WILL from my father’s sister a Citizen of UK.I want FIRC from the Bank. They are asking me the purpose code. I want to know the purpose code for the inward transaction of GBP 10000.
Can you tell me if someone has got gift from a foreign country can he do currency exchange
I received shares as gift from my NRI sister .What will be my acquisition cost for calculating Short Term or Long Term Capital Gains Tax
How much money can I non resident alien receive from india to USA without tax
I am an NRI and I want to gift deed 24lakhs money to my mother online
Can a NRI transfer his property to parents
How much amount in US $ can a son gift to his father in India as per US laws. Son has acquired American citizenship.
My son nri with usa passport wants to gift from his nro accounto my ( also nri ) with usa passport. Do we need gift deed for tax purpose
Can mother in India gift 200k AUD to daughter in Australia
It a person send the parecel from another country and Indian person cancel it or have any issue with that person
If a resident Indian wants to give as gift to his son/daughter who is working on visa in USA a gift, what is the maximum amount that can be given without paying tax at both the places
If a Resident Indian becomes NRI and subsequently OCI, then does the Aadhaar card held by Resident Indian need changes
What is the legal way of getting money transferred from a Indian resident relative to Me living in the UK, for the purpose of buying a house
Want to gift Rs5000000/- to my son NRI. What is the procedure?
I have migrated to live with my son after retirement.I am selling a property in India,and I have also received a PPF maturity payment.My son has an NRO account.I wish to transfer the entire amount to his NRO account.Is there a tax liability for either of us??
Suppose a commercial property is given to a bank on rental basis for a period of 9 years and during this period, If i decide to gift this property to my nri daughter, can I do that ?? Can the bank agree to this or one has to first terminate the rent agreement and then re-enter into agreement with the new owner
How much money I can send to my son in Canada from my sb acct
I am holding a commercial shop in Mumbai and wish to transfer the title to my NRI( H1B Holder) daughter, how to go about it.What are the tax implications ?? In India as well as at USA for me and to her.
Upto how much value of a property an NRI can give as a GIFT to Indian Resident Sibling / Relative & its Taxation effect..??
Can my indian resident sibling gift farm land to me (australian citizen)
I am a person of Indian origin but now acquired foreign citizenship, can i purchase land in india
Hello Sidney
Yes, as a Person of Indian Origin (PIO) who has acquired foreign citizenship, you are eligible to purchase immovable property in India, subject to certain conditions and restrictions.
According to the Reserve Bank of India (RBI) guidelines, PIOs can purchase residential and commercial properties in India, subject to the following conditions:
1.The property must be for the PIO’s residential or commercial use.
2.The property must be purchased in Indian Rupees (INR) through funds remitted from abroad or through a Non-Resident External (NRE) or Foreign Currency Non-Resident (FCNR) account.
3.The PIO must file a declaration with the RBI within 90 days of the purchase of the property, giving details of the purchase price, the source of funds, and the purpose of the acquisition.
4.The PIO may not purchase agricultural land, plantation property or farmhouses in India. However, they may be able to inherit such properties.
Is cash gift by bank deposit or cheque from mother (resident account) to a daughter (NRO account) taxable ?
Hello Karan
As per the Indian Income Tax Act, a gift from a relative is generally exempt from income tax, regardless of the amount. For this purpose, a “relative” is defined to include a parent, child, sibling, and spouse, among others.
Therefore, if your mother gifts you cash by depositing it into your NRO account or by issuing a cheque from her resident account, it should generally be exempt from income tax, as long as your mother is a “relative” as defined under the Income Tax Act.
However, it is important to note that if the gift amount is very large, the tax authorities may scrutinize the transaction and require proof that the gift is genuine and not a way to evade taxes.
I am indian resident and my spouse living in USA. I i want to gift money to my wife in india but she lives in USA , what’s the max i can gift her in india account which she is not taking to US
Hello Jignesh
As an Indian resident, you are allowed to gift money to your wife who is a non-resident Indian (NRI), subject to certain limits and conditions.
According to the Reserve Bank of India (RBI) guidelines, an Indian resident can gift up to USD 250,000 per financial year to an NRI spouse who is an Indian citizen or of Indian origin. This gift can be made in any form, including by way of a bank transfer to your wife’s account in India.
It’s important to note that the gift must be made out of your own funds and cannot be sourced from any borrowed or loaned funds. Additionally, the gift must be made under the Gift Tax Act, and you may be required to file a gift tax return if the value of the gift exceeds a certain threshold.
What are the taxation rules in the USA for an NRI with regards to receiving gift from Indian parents , remitting 200k USD
Hello Mohan
As an NRI living in the USA, you may be subject to US tax laws on any income you earn or receive in the US. In general, the US tax system is based on the worldwide income of US citizens and residents, but the rules are different for non-resident aliens, including NRIs.
When it comes to receiving gifts from Indian parents, the tax treatment will depend on the nature of the gift and the amount involved.
If any person from another country wanted to give me a gift worth rs – 200000 how much cost charges to pay the receiver
Hello Chaturvediamulya
If you receive a gift worth Rs. 200,000 from someone in another country, you may be subject to customs duty and other taxes depending on the country you are in.
It is important to check the customs and tax laws of your country to determine the exact charges you may be subject to. You may also want to consult with a tax professional for more specific advice.
I am Indian recident i want to gift to my son rs 10 lacks in Dubai by bank transfer any tax to pay in India ?
My son an NRI. My wife & her sister joint holder of a property selling it and planning to remit to my son’s NRO account which inturn he will make as NRO deposit in the same bank. My question is 1.Hope no gift tax to both as close relatives. 2. TDS of 30% on interest too ok3. IT return and refund upto 3 lacs under new regime – is it correct. 4. Abv 3 lac IT applicable as per citizen limit and std rebate not eligible. Am i ok in my understanding
Hi..My question is can we transfer from NRE account to home loan account….and wha are the tax implications?
I have property in India and I wanted to do gift to my mother
I an an NRI. i have NRO account in india. can i transfer Rs.50000 from my NRO a/c to my friend? is it taxable for me or to him?
Wat gifts are allowed to receive if my friend send it from another country
My Father’ s sister live in Bdesh and want to gift her inherited Indian property to me. she is unable to come to India due to her serious illness. But her daughter can come to India. Please suggest the way that will fruitful me me.
regulation regarding gifting my property to a relative.I am an NRI and OCI cardholder, I live in Kansas, USA
Can recently a green card holder usa send money trough lrs to son for maintenance
I am 74 lady. I am cancer survivor. I want to give my bank fds to my daughter and her children. How to go about it. She is the 2 nd depositor now
Sending money rs 1,00,000/- to sister abroad from India as gift
Can i know how much account can i transfer to nri account
I am NRI and I want to transfer my flat by GIFT DEED to my brother who is Indian? Do I need NOC from RBI?
I want to gift agriculture land to my father
I am selling a property with power of attorney send by my nri sister. Property is inherent and registered on my father name
How much an Indian resident can give as gift to his relative
Hi Karan,
The limit for tax exemption on gifts made by an Indian resident to their relatives is currently Rs. 50,000 per financial year (April-March). This means that an Indian resident can give a total gift of up to Rs. 50,000 to their relatives in a financial year without attracting any tax liability.
Nri gifted to indian parents through account transfer and they bought property on their name so is there any tax?
Hi Sandy,
It’s important to note that the tax laws in India are complex and subject to change, and the exact tax implications of a gift of money used to purchase property will depend on the specific circumstances of the gift. It’s recommended that you consult with a qualified tax professional who can provide you with specific advice based on your unique situation and circumstances.
What is the tax implication in USA , if I (USA citizen) give shares as a gift to my family friend ?
Hi Hiral,
It’s important to note that the tax implications of gifting shares can be complex, and may vary depending on the specific circumstances of the gift. It’s recommended that you consult with a qualified tax professional who can provide you with specific advice based on your unique situation and circumstances.
Does fema permit resident indian to gift his share of joint Australian immovable property with close relatives , to his wife
Hi Vikram,
Yes.
I am NRI maine gift deed ki the apni soninlow ke Nam usne mere bete se tlak le liya hai kiya Mai gift deed vapas le sakta hu
Hi Abdul,
Please consult with your lawyer.
Can resident gift policy to Nri
Hi Karan,
Yes, a resident individual in India can gift a life insurance policy to an NRI (Non-Resident Indian) as long as the gift complies with the Foreign Exchange Management Act (FEMA) guidelines.
What is the best way to gift immovable property to my Mother. I am an AU Citizen and my mother in Indian Citizen. The property is registered on my name.
Hi AD,
As per my knowledge, You can gift the property through Gift Deed.
Can we transfer money to an NRE account and use that to buy property in India? What are the tax implications in US or India for it .?
Hi Pricks,
Yes, money can be transferred to an NRE (Non-Residential External) account in India and used to purchase property. NRE accounts are specifically designed for Indian citizens living abroad to hold and manage their foreign income in India.
As for the tax implications in the US, money transferred to an NRE account is considered as foreign income and is subject to US taxes. However, if the money is being transferred from a foreign bank account that you already own and the money was already taxed in the foreign country, you can claim a foreign tax credit or exclusion to avoid double taxation.
In India, income earned outside India is not taxable in India. However, if the property is rented out, the rental income earned will be taxable in India. Also, the capital gains on sale of property will be taxable in India if the property is sold within three years of purchase.
It is recommended to consult a tax professional in both the US and India to understand all the tax implications and to ensure that you are in compliance with all the tax laws.
I want to gift around 75 Lacs to my nephew in India. I want to get it vested in 4 years. How to do this?
Hi Sanjiv,
You can gift money to your nephew in India by transferring it to his bank account. However, if you want the money to be vested in 4 years, you have a couple of options:
Trust: You can set up a trust in India, with your nephew as the beneficiary, and transfer the money to the trust. The trust can specify that the money will be vested in your nephew after 4 years. This can be done with the help of a lawyer or a professional trust company.
Will: You can also make a will and specify that the money will be transferred to your nephew after 4 years. However, this option may not be as flexible as a trust, and the will takes effect only after your death.
It’s also important to note that there might be certain legal and tax implications in both India and your country of residence. It’s recommended to consult with a lawyer or a tax professional to ensure that the gift is in compliance with all the laws and regulations, and to understand all the tax implications of gifting the money.
I have my brother residing in UAE. If he sends me money 50000 to 70000 rs. per month to me. Is it liable for taxation?
Hi Parkar,
If your brother residing in UAE sends money to you in India, the money is not taxable in India. As per the Indian Income Tax Act, money received as a gift from a relative is not considered as income and therefore is not taxable. A relative is defined as spouse, brother, sister, brother or sister of the spouse, brother or sister of either of the parents, any lineal ascendant or descendant. However, it’s worth noting that your brother might be subject to taxes in the UAE for sending money out of the country. It’s recommended to check with a tax professional in the UAE to understand the tax implications for your brother.
It’s also important to note that if the money is being sent for a specific purpose such as a business venture or for buying property and the money is being sent regularly, the regularity of such transactions could be seen as a business income and might be taxable.
It is always recommended to keep all the transaction records and communication with your brother to establish the nature of the transaction in case of any future inquiry by tax authorities.
can NRI son in law staying in USA give gift to mother in law or father in law staying in India? And what is the limit if any
Hi Minex,
An NRI (Non-Resident Indian) son-in-law living in the USA can give a gift to his mother-in-law or father-in-law who are residing in India. There is no limit on the amount of the gift, but if the gift exceeds INR 50,000 (Indian Rupees Fifty Thousand), the recipient will have to pay taxes on it according to the Indian income tax laws. It is advisable to consult a tax professional for more information on gift tax and compliance with Indian tax laws.
If my daughter in law remits money from the US to her husband’s NRI account will it attract GIFT TAX.
Hi Divya,
If your daughter-in-law remits money from the US to her husband’s NRI (Non-Resident Indian) account in India, it would not be considered a gift and would not attract gift tax. However, the money would be subject to foreign exchange regulations in India and any income earned on that money would be subject to income tax in India. It is advisable to consult a tax professional for more information on foreign exchange regulations and compliance with Indian tax laws.
Can someone wire a gift without tds
Hi Karan
In most cases, TDS (Tax Deducted at Source) is not applicable when someone wires a gift to another person. However, TDS may be applicable if the gift exceeds a certain amount set by the government. It’s best to check with the relevant tax authorities to confirm whether TDS is applicable in your specific case. Additionally, It’s also important to note that, it could vary from country to country.
I am an nri and would like to know if i can gift my used vehicle to my mother in india?
Hi Jerry,
As an NRI, you are allowed to gift a used vehicle to your mother in India. However, there are certain procedures that you will need to follow in order to transfer the ownership of the vehicle to your mother.
First, you will need to obtain a “No Objection Certificate” (NOC) from the regional transport office (RTO) where the vehicle is registered. The NOC is a document that certifies that the vehicle is registered in your name and that there are no outstanding dues or loans on the vehicle.
Next, you will need to transfer the ownership of the vehicle to your mother. This can be done by filling out the appropriate forms at the RTO and paying the necessary fees. You may also be required to provide documents such as the NOC, the vehicle’s registration certificate, and proof of identity for both you and your mother.
It is advisable to consult a lawyer or a professional at the RTO to ensure that the transfer of ownership is done correctly.
I am an NRI, My monther( In INDIA) want to give gift of Rs 60,00000.($74000). Is it tax free or taxable ?
Hi Surajit,
In India, it’s tax-free but it is advisable to consult a tax professional to determine the specific tax implications of this gift and to ensure that you are in compliance with Indian tax laws.
What are Indian gift tax implications when an Indian resident (mother, father) citizen receives AUD 200K from a blood related Australian citizen (child) via an international money transfer for the purpose of property purchase in mother, father and another sibling’s name?
Hi Sanjeev
There are no gift tax implications in India for a resident Indian citizen receiving a gift of AUD 200,000 from a blood-related Australian citizen. However, the Indian resident may be required to pay income tax on any rental income or capital gains earned from the property purchased with the gifted funds. It is advisable for the Indian resident to consult a tax professional to determine their specific tax obligations in this situation.
What is the maximum cash I can receive from my brother from India. I am an NRI in Ireland
Hi Saravan,
There is no limit as you and your brother share a Blood relationship with each other.
Can my nri son in law gift money to me – father in law
Hi Kasthuri,
Yes, but there will be Tax implications. The amount is added to the receiver’s income and taxed as per the income tax slab applicable to the receiver.
As a nri if he buy agriculture land without knowing what should he do immediately
Hi jay,
If a non-resident Indian (NRI) has purchased agricultural land without fully understanding the laws and regulations surrounding the purchase, they should immediately seek the advice of a legal professional with experience in real estate and agricultural land laws in India. They should also consult with any relevant government agencies to ensure that the purchase is in compliance with all laws and regulations. Additionally, they should make sure that the land is properly registered and that all necessary documentation is in order.
How can i send money to my nre account from India. It is the money sent previously by me to my parents
Hi Sathish,
First, deposit your money into NRO A/c and then you can transfer the money from NRO to NRE A/c
I am a.PR of AUSTRALIA. I have Immovable property in India. I wish to make a gift deed to my Children who are australian citizens.
Hi Govindasamy,
It is possible for you as an Australian PR to make a gift deed of your immovable property in India to your children, who are also Australian citizens. However, it is important to note that Indian laws regarding gift deeds may vary from state to state, and you should seek legal advice from an Indian lawyer familiar with the laws in the state where the property is located. Additionally, you should also seek advice from a tax professional to ensure that the gift is in compliance with both Indian and Australian tax laws.
Can the gift deed ( resident indian to NRI(also an OCI holder) be in plain piece of paper
Hi Deepa,
A gift deed is a legal document that transfers ownership of property from one person to another as a gift. The document should be in writing and should be executed in accordance with the laws of the jurisdiction in which the property is located. In India, a gift deed should be executed on a non-judicial stamp paper of the appropriate value and should be registered with the local authorities. It is not recommended to execute a gift deed on plain paper as it may not be legally valid.
Do you help an NRI to file India tax return
Is it possible for NRI to open a FD in name of cousins
Hi Jaydeep,
Yes.
Is there any tax implications if i transfer large amount of money from poland to my parents in India?
Hi Indrajit,
No, There would be no Tax implications.
My Parents are Indian Citizen resident of India and Senior Citizen would likeTo give their son who is NRI in termsOf bank transfer from their acocjnt to son NRO account is there a limit
Hi Rohan,
There are no such limits.
How much we can remittance to NRI in blood relation to US withhout tax liability in either country
Hi Karan,
There is no Tax liability if you do the remittance with your Blood relatives.
My nephew in USa wanted to gift me 1cror rupees as gift, what is my tax liability in India?
Hi Prasanna,
The amount is added to the receiver’s income and taxed as per the income tax slab applicable to the receiver.
Can i gift an immovable property in India to a relative without going to India?
Is there any form for getting the share of the NRI who has a share in the immovable property in India to her/his own brother who is resident Indian?
Can I send iphone to my wife from usa to india? Without custom duty?
How much money can I as Indian resident can gift to my two children that is not taxable in a financial year? Can I send both of them in one financial year?
Hi Harbir,
There will be no Tax Liability, as they are your Child.
If a nri (oci) wants to transfer or gift his share of coownership of property on his sons name, who is already a cowner of indian nationality then what are the formalities
I am an Indian citizen. My son is an NRI. I have sold a property in India and want to transfer funds to him. What is the procedure and taxes involved
Can a converted land be gifted by father to son, where the son is the citizen of USA
If my sister gives me 50 lacs rupees in India via Cheque gift is it taxable
do fcnr and nre deposit interest is taxable for OCI holders who stays beyond for more than 182 days in India
My son is on H1B visa in us . Can I deposit money in his Indian account or by mutual funds in his name . What would be tax implication in India and USA
I am a resident indian.one of my friend who is an NRI and settled in usa wants to bequeath some us immovable property in my favour through his will.pl inform if the value of property when received in India by me will be liable for income tax or not
Hi Mangla,
There would be Tax implications.
Can an NRI give a gift to another NRI property
Hi Anil,
Yes.
While in India I had a adhar card and now my status is NRI. My parents have now shifted their residence and have also got tha address changed in the adhar. Could I also get my permanent address changed
From my NRE account how many USD , i can send to my daughter in U.S. as gift
Hi Ravindra,
There is no such Limit. As you both share the Blood Relationship with each other, the full amount is Tax exempted
How to I make gift deed ? My sister Indian resident is giving me money as a gift so what documents are needed ?
My son staying at Dubai , how he transfer 10 lacs to my account? Is it taxable?
Hi Jeetu,
This is not Taxable.
Thank you Mam..
I want to gift dollars to my granddaughter living in United States. May I? Please guide
Hi Indresh,
Yes, You can
Can nri gift property to resident Indian to save tax
Hi Rastogi,
Yes.
How much money can I receive as a gift from europe
Hello Rahul
Thank you for msg
if the total amount of gift received during the year by an Individual or HUF exceeds (Rs. 50, 000) it will be charged under the Income Tax Act.
I am a NRI and wish to gift cash to my sister (blood relationship) is there a cap on sending amount and whether it’s taxable?
Hello, Rohit
Thank you for msg.
Any amount received as a gift from blood relatives is not taxable in India & Any amount up to $5.6 million given as gift is not taxable for the giver in the US.
A foreign citizen wants to give his property in a foreign land by way of will to an Indian citizen. What laws in India would be applicable?
My father died and if he has any money in USA can I get that money . I live in usa
Hello Dilip
thank you for msg.
yes you can get that money.
Regarding receiving money from Australia to India as gift by blood relative.
Hello Suyash
thank you msg
Any amount received as a gift (money) from blood relatives is not taxable in India.
& The minimum number of AUD to execute a transaction is AUD 250. The maximum amount that can be sent in one transaction Is AUD 10,000.
Seema whether a gift (amt of 50 lk) out of sale proceeds of house given by resident mother in india to non resident son , is taxable in india
actually one of my friend from london send me a gift to india but i dont want to accept it what will happen to that gift
if i receive a gift of 10 lakhs from my daughter have i to report to Tax people even if i do not pay any tax
Hi Abhi,
No.
My husband just died . I did not know he has some lands in India. Now his Nephew would like to sell the land and asking me to sign the paper. So he can sell the land. What Is the law. Is it legal to sign as I live in UK and I am British pP holder I do not have Adher card or Pan card
How to transfer funds from India to Canadian account when the funds are a cash gift from Father to their child?
Hi Swathi,
First, transfer the money from Savings A/c to NROA/c and from NRO A/c to NRE A/c
My mother has gifted rupees 4.5 lakhs as gift to my son who is working in hongkong . The money was given through cheque and has been credited to his nro account. My son has submitted all documents required 15 ca etc through chartered accountant. But still bank is asking for gift deed. Should the gift deed be done? What is the procedure?
What is the maximum gift amount from father to son who is a German resident with out tax
Hi Pushpa,
There is no limit as they share the Blood Relationship with each other.
my wifes father wants to send cash transfer to her as a gift, we are uk residents, are there any tax implications for her or him
Hi Gurjhornbyroad,
No.
I am an NRICan I transfer 1000$ to my brother as a giftIs it taxable to my brother
Hi Lakshmi,
No, it will not be taxable.
can nri relative gift to resident indian in foreign currency and is there a value limit in a financial year as per FEMA
Hi Farida,
NRI/OCI can gift cash to Residents (Sec 9 FEMA) Resident cannot retain currency more than US 2000 or equivalent
Tax implications for sending money from my nre account to father’s resident savings account in order to purchase property in my name
Hi Suhas,
There would be no Tax implications if you show this fund as gift.
If nri sends money to resident Indian father worth more than 50,000 is it taxable income for father
Hi Manish,
No, it is not taxable.
Ian an Indian Residing in Dubai For The last2 Years with my son ,Ian 70 years Old I have a property in Mumbai I want to gift it to my son for all have doing for me
Hi Adrian,
Yes you can
Nri daughter gifts indian immovable property to father is it taxable in India
Hi Ashfaq,
No, it is not taxable.
can fcnr currency be transfered from one indian bank to another?
Hi Ashfaq,
No
Which kind of gift suitable to give Indian family?
What’s the process to get gift from father to NRI son?
Hi Shivendr
Depends On what kind of gift.
If my son who is NRI gifts money from his overseas account to his mother’s overseas account who is a resident Indian does this needs to be reported to IT department and RBI under FEMA. What documents will be required if so.?
Hi Mazher,
No.
Are NRIs aged 75 exempted for filing ITR if they draw pension and interest income from a bank in india
Hi Ramesh,
No.
Hi Ramesh
super senior citizens aged 75 years and above are not required to file ITR if they meet certain criteria defined in the Income Tax Act, 1961.
My PIO daughter has a flat in Ghaziabad. Can she gift it to her mother (an Indian). If so what will be stamp duty in U P. If mother sells flat later on, what would be considered its cost for LTCG?
Hi KV S Jain,
Yes, Shae can gift.
The LTCG will be @20% with Indexation.
If i want to give gift to nri sister what is limit of rupees and how much tax will be paid
Hi Jay,
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 Jay
if the aggregate value of gifts received during the year exceeds Rs. 50,000, then the total value of all such gifts received during the year will be charged to tax (i.e. the total amount of gift and not the amount in excess of Rs. 50,000).
If my usa NRI send 3 crore money to me to India for purchase property house to nri frnd .than in india pay tax by reciver in india
Hi Rana,
The tax will be paid by the Receiver.
Does receiving money (1.2 lakh) from in-laws considered as gift? I am an NRI. Can they deposit to my NRO account directly?
Hi Prajawal,
Yes. They can gift.
Hi Prajwal
Yes.
Buying Property in Mother’s name as NRI
Hi Mahesh
If the mother makes a registered will and she does not change it then NRI gets the property. Nri can purchase but in the future on the demise of the mother legal heirs can claim an equal share, as per Shariah law your mother cannot execute an entire property through will so better execute a relinquishment deed.
Can a mother who is having an NRO account gift money to her resident daughter
Hi Priya,
Yes, She can gift.
Hi Priya
Yes.
My brother’s son wants to send about 25 lacs to my account, is it taxable
Hi Chockanathan,
Yes.
Hi RJ Chockanathan
Any amount received by relatives is not taxable at all, so you will not have to pay any tax on the amount received.
My own brother lives in Saudi Arabia and works ther on contractual basis. He wants to gift me Rs 2000000 as gift for helping me purchase a home in India. Does it have any complications of FRCA.
Hi Madhur,
No.
I want to gift 3 lakhs INR to my elder brother in the form of an FD since am an NRI am not able to transfer funds from my account to directly open an Domestic Term Deposit (FD). What other ways are there to fulfill my requirement, pls advice
Hi Reji,
As per my knowledge, First you need to transfer the amount into his account and then he can open an FD account.
Can an NRI gift to his immovable property which is situated in USA to his mother in Bangalore who is residing in Bangalore
Hi Arun
Yes.
Can a FCNR B be transferred from one bank to another in same currency
Hi Ashfaq,
The funds held in FCNR (B) account are fully repatriable i.e. funds can be transferred to any overseas account.
Im not gettung the specific answer for gift received from abroad will be coynted in national income or not
Hi Neha,
Gift and remittances received by Indian abroad- Not included in national income because they are transfer incomes and payments
How much money a parent can gift to his nri son
Hi Karan,
There is no limit for transferring money as there is blood Relation between the Giver and Receiver.
my son residing in USA would like to gift me from USA amounting to Rs 10 lakhs, what is implication in FEMA
Hi Balasubramanian,
A resident individual can gift his NRI relatives in Indian rupees as well as foreign currency under Liberalized Remittance Scheme (LRS) within the limit of USD 250,000 per resident relative per financial year. Gift received in Indian rupee can be deposited only in NRO Account.
My nri son having a flat want to gift me. What is procedure for gift transfer deed and tax liability thereto???
NRI sister want to gift 5000000 inr to Indian citizen brother, what will be tax implications
Hi Suyash,
There is no Tax implication, if the Receiver and Giver both share the Blood Relationship with each other.
Are there tax implications if my brother transfer £500k from his account in bank of India to my bank account in the uk as a gift?
Hi Shilpa,
There is no Tax implication, if Gift receiver and giver share the Blood relationship with each other.
Kindly advice max amount as loan that can be received in my NRE account in India from a friend in Dubai using western union mode of transfer ?
Hi Ashish,
As per my knowledge there is no such limit.
How much amount to be paid as tax, for convertion of money and transfer of that money to bank account if any Indian received gift from NRI. And how much amount to be paid for gold gift from NRI from
Hi Rajashree,
This is all depend from whom you received the money as gift.
Can mother living in India gift son living overseas Money.If yes what is the maximum limit.Is there any tax implications
Hi Roger,
There is no limit for gift id the receiver and giver has the blood relationship with each other.
Son sent money to mother’s account in India From USA, she bought property with that money and gave gift to others , now son asked to give back that property and mother also want to give back but donee refused to give back that gifted property, is it possible to take back that property by son legally
Indian settled abroad can open new account or not
Hi Pooja,
Please Clear which account you are talking about?
We both are Australian citizen, don’t file tax in India as we have no income coming from there.We have two plots (one in Jaipur and another one in Gurugram). The aim is to sell these both plots and bring the money to AustraliaJaipur Plot:- Puchased in 2007- Size : 300 sq yards- Purchase price INR 5500 per sq yard- selling price INR 13000 per sq yardGugugram Plot: – Purchase in 2010- Size : 200 sq yards- Purhcase price INR 8000 per sq yard- Selling price INR 40000 per sq yardI am thinking about following options1. Option OneWe sell both plots by power of attorney and pay flat tax of 25% on the capital gain. No indexation , just flat tax rate on the difference between selling amount – purchase amount.2. Option TwoGift both plots to my mother who has no other income in India and wo sell the plot, taking advantage of Indexation and paying comparatively less tax. Plus this will save us hassle of filling income tax return in India and getting money out of country will be easier. Or is there any third option ? I am looking for tax advise, do you know who can help ?
Hi Sandeep,
Kindly ask to your CA
Can Indian huf transrer money to member for study in us
Hi Hitesh,
There are no restrictions on the rights of a Karta to gift assets of the HUF to anyone under the tax laws. However, if the gift is made to a family member, the income tax department may treat this as partial partition of the HUF and disregard this for income tax purposes.
Hi Hitesh,
There are no restrictions on the rights of a Karta to gift assets of the HUF to anyone under the tax laws.
My daughter is nriMy question is:- can I purchase flat making her co/owner- how much money she may gift me without gift tax as per usa lawThanks-
Hi Binda,
Any gift received from a blood ‘relative’ is exempt from Tax (‘relative’ in this case is defined as spouse, daughter, brother or sister, spouse’s brother or sister, parents and lineal ascendants of individual or his spouse, siblings of parents of individual or his spouse)
I would like to transfer 5 lakhs rupees to my sister , i am a NRI , is that amount taxable to her?
Hi Bashir,
The amount will not be taxable as she is your relative .
My NRI friend is going to transfer more then 1core to his nephew resident of India ,What are consequences
Hi Shrikant
Consequently, any sum of money gifted to nephew shall not be chargeable to tax in the hands of the nephew. However, reverse shall be taxable since nephew is not a relative of his uncle in terms of the definition contained in Section 56 of the Act.
sibling need to deposit money as a gift in my account nri or nrio
Hi Rakesh,
Sibling can only deposit money in NRO account.
what are consequences if transfer of shares from NRI to NRI as a gifts?
Hi Amala,
You should consult with a CA for this
Bank frozen the savings accountHow do we come out
Hi S Anavarathan,
You need to connect with your bank for this
What are the modes from which a NRI company can transfer shares to a company of India
Hi Antima,
You should consult with a CA for that.
i have just sold a property in India. I want to share the sale money with my two brothers one lives in Canada and the other in India. I have paid the capital gains tax on the money recieved. I want to now transfer 30 lak to my brother in Canada and 30 lak to my brother in India…how can i do this…
Hi Sanjeev,
You can transfer this amount to their NRO account and then they can transfer this amount from NRO to NRE account & then they can repatriate this amount to their overseas bank account.
gift of Rs 20lakh by nri father to indian resident son is taxable or not
Hi Roni,
It is not taxable.
My father an Indian resident wishes to give me a gift exceeding rs. 50,000. I hv an bro and an Nri account in India. What r my best options to minimize tax
hi Jay,
He can gift you the gift more than Rs 50000 & it is not taxable.
I am a US Citizen. A person not related to me (who is a Indian Citizen living wants to “gift” me some money. How much can he gift to me without any tax implications in India either for me or for him?
Hi Ramakrishna,
He can only send you Rs 50000. above that there will be tax implications.
What is the taxation on recieving fund in accounting my by NRI relative?
Hi Ranjan,
You should consult with a CA for taxation.
What gift can I give to my uncle who is a foreign return as a minor
I’m an Indian resident I’m about to receive $ 35000 from usa is it taxable for me.. ?
Hi Shwetha,
If your are receiving this amount from above mention relative then you don’t need to pay the tax on it.
My friend from london wants to help me he want to give me 25lakhs to start my business Is it legal Is it taxable
HI Nikhil,
It will be taxable.
Can An American Husband send money to his Indian wife to buy property
Hi Dips
Yes he can send the money.
Is it possible to receive a gift from a resident indian account to an NRO account in INR by cheque?
Hi Sanjay,
yes it is possible.
how can I engage someone to advise me on rules regarding gift giving by my sister in India to me in the US
Hi Jay,
You should consult with a local tax advisor in US.
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 ?
Hi Mahesh,
You should consult with a CA for that.
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
Hi Bhumika,
You should consult with a CA for that.
Can nri gift his immovable property this real brother in india
Hi Rupal,
yes he can.
my father is sending 50000$ us doller to my mother in india as a giftso how much tax my mother will pay
Hi Abhi,
There will be no tax liability.
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.
Hi Balamurugan,
You should consult with a CA for 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
Hi Rajnish,
There will be no tax liability in India.
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
Hi Jay,
There will be no tax liability.
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 Ram,
It would be better if he sell the property and then amount transfer to your account. You can transfer this amount from your NRE account to overseas bank account.
can an NRI gift shares to his brother in India
Hi Ajay,
No he can’t.
Can I give ti gift to son in america
Hi Karan,
Yes you can.
My friend want to send me some money from USA, want to know the taxation and other proceedures
Hi Nagamani,
Amount will be taxable. For the procedure you should consult with a CA.
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 Ankush,
You should consult with a local tax advisor in UK
transfer of farm land sale proceed to US.
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
Can i gift a property to a same sex partner who is a foreign citizen by birth?
Hi Sam,
Yes.
Can I get Singapore dollars as gift from my sister who is NRI and Singapore citizen
Hi Pramak,
Yes.
Can a OCI Person gift money to brother in law. Will there be tax charged.
Hi Sonali,
Yes.
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.
I am NRI, I can transfer money to my relatives and if there any tax applicable.
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.
Can RNOR gift his Funds from NRE FD to Daughter,s NRE Account. And is there any limit on amount .
Hi Rajesh,
Yes, You can first withdraw that amount from your account and then transfer it to your daughter’s account.
Can a father gift to his son abroad& the limit
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.
If a NRI send us a gift .who have to pay the tax the donor or the donee
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
Hi Karan,
The entire gifted money is Exempt from Tax.
Can british citizen residing in spain gift his house in barcelona to niece in india?
Hi Sonia,
Yes, but there will be tax implications.
Sir if a foreigner friend send a luxury items and money through courier and Indian friend deny to accept then is there any consequences
Hi Abhishek,
there is no consequenses.
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
Hi Sanjay,
Yes.
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)
What tax is levied in india if a us citizen relative gifts them US dollars/INR/immovable property in india
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 .
Hi Vijay,
Yes, She can but.
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.
Hi Shalini,
NRIs can not buy agricultural land.
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 .
Hi Shobhna,
Yes, they can gift.
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
Hi Andy Barr,
Yes, you can do the same.
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
Hi Megha,
Kindly consult with your CA.
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
Hi Karan,
No.
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?
Hi Ravi,
No.
My father is NRI living in UAE for 20yrs, can he gift be 1.25CR INR. Do i need to pay any tax
Hi Sujitra,
No. The whole amount is Tax-Free.
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?
Hi Ravi,
For Financial assets, even Rs 50 or 100 is good enough. In the case of property – it will depend on value and state govt rules.
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 wish to know how much i can recieve as gift from NRI friend?
Hi Vignesh,
Up to Rs. 50000, there is no Tax.
Sending Gift to NRI
I want to send £ 500000 to Uk as sale proceeds from my property sale in india
Hi Karan,
Only 2.5 Lakh USD can be transferred in a Financial Year.
NRI how much amount transfer to india
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.
Hi Amit,
The whole amount is exempt from Tax as you are receiving gift from your Parents
Can an OCI card holder receive gift from someone residing in India?
Hi Devibharati,
If he is your Relative then there is no Tax. If no there will be Tax.
Can NRI person give gift of Rs 1000000 to his brother in law ? Any tax payable in India on gift received
Hi Vijay,
Gift received from the brother-in-law is exempted from Tax.
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.
Let me known I can I remit money to Canada as gift
Hi Rudra,
Yes. You can
Can a maternal grand mother gift cash to her grandchild tax free.Is she considered a relative in India
Hi Sadhna,
Yes.
In Gift deed, In case of account transfer, Is it require to give bank account details in the deed ?
Hi Yasho,
No.
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?
Hi Pbak,
As per my view, you have to visit 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?
Hi Meena,
you can transfer property through a gift deed.
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.
Hi Manoj,
It is all up to you.
Both the ways are safer and convenient.
If I, Indian wishes to gift INR1,500,000 to my son in Canada am I to pay Foreign Remittance Tax?
Hi Falguni,
No Tax will be levied.
how much can i gift to my children and grand children in one FY from India to USA
Hi Vijaya,
As you are gifting to your relatives, you can gift as much as you want.
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
Hi Muzaffar,
There is no Tax.
How much can you gift a family member in 2021 in India
Hi Sankar,
There are no restrictions on gifting to relatives.
Son nri and mother resident indian own jointly an apartment in Chennai. Can the son gift his share to his mother?
Hi varadarajan,
Yes.
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.
My son is a nri. Can he gift his property to me.
Hi Sanajay,
Yes.
Can I send $100000 in a year from USA to india
Hi Karan,
Yes.
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?
Hi Samrat,
All the money transferred is Tax- Free.
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?
Hi Suman
Kindly consult your lawyer for this.
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
Hi Panesh
Please consult CA for this.
How much money can my father from India send to me in Quebec, Canada which is non taxable for me in Canada?
Hi Pallavi
I think you should consult Canada based CA for this.
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
Hi Harijans
Kindly consult CA regarding this query.
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 Satyabrat
Yes
What is the limit if NRI sends money to Indian Resident relative by Bank transfer ?
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 ?
Hi Sneha
Kindly consult CA for this.
Are there any charges applicable while receiving gift or money from foreign friend
My son is NRI, can he gift his Indian property to his mother nd father (50 – 50) without visiting India , if Yes , How ??
Hi Raj,
You should consult with a CA for this.
How much NRI tranfer money to Father & Mother in one Assesment year
Hi Ketan,
There is no limit to transfer the money to your parents.
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
Hi Deepak,
You should consult with a local tax advisor in australia.
Spouse received an income of 36 lakh from nri husband is taxable or not
Hi Kapil,
It is taxfree.
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.
What is the documentation required for gifting remittance to children overseas
Hi Sangita,
You should consult with a CA for this.
Can I accept the gift of nri nonrelative to me by will
Hi Narendra,
Yes.
My brother (he is nri) wants to give me cash as gift. Is there any upper limit to avoid tax on it?
Hi Keerti,
No, Gifts are tax-free if received from NRI relatives.
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
Hi Dhanesh,
No tax.
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?
Hi Ranjan.
Yes, you can give your property to your brother as a gift.
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 Sher,
Kindly consult with your Tax consultant.
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
Can a NRI gift his resident wife more than 50 lakhs without paying tax?
Hi Srikant,
Yes.
How much money can be taken as a gift from relative to NRI maximum? Is it taxable?
Hi Sanjay,
No limit and Not Tax.
I am an nri and wish to gift cash of 1 million to my in-laws. Best way that is tax free?
Hi Ganesh,
No Tax will be levied.
My father in india wants to gift money to my sister who is in USA
Hi Vijay,
No tax will be levied.
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…?
Hi Rana,
Kindly consult your CA.
I am NRE, I wanted to buy a flat on my wife name. Can i transfer the amount to my wife resident account and she buy flat
Hi Mahesh,
Yes, you can do so.
My daughter wants to send me a phone from USA. I live in India. Is there tax on it
Hi Geena,
No. There is no Tax.
whether gift of immovable property located in India to a registered trust by NRI is taxable in the hands of the trust
Hi Narparaj,
Kindly consult your CA.
Iam NRI..whts the max value in cash i can gift to my brother who is a resident indian
Hi Ramesh,
No limit.
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
Hi Kanika,
No Tax liability.
I am an NRI, looking to gift a property I inherited, to my paternal uncle. Need the details & stepwise procedure on this please. Thanks
Hi Raj,
Kindly consult your CA.
Can my mother (seller and owner of the land) request buyer deposit land sale proceeds into my account ?
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
Money transfer from India to UK
Us to India gift i have to pay money in airpot
I want to know if tax is levied on money sent from parent in india to son abroad
Hi K.R.Mamatha,
There will be no tax implications on money sent from parents to their son.
I want to know how much gift tax will be imposed if my father gives me cash of 10lakhs
Hi Balajiva,
There will be no tax implications on gifts given by father to his child.
how much money I can send to my son from India to Australia in one financial year?
Hi Harinder,
There will be no tax implications on amounts given by parents to their son. So it’s all upto you.
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
Hi Chinnappan,
There will be no tax implications.
will my borther’s wife and her son considered my blood relatives.
Hey Parmod,
No, only your brother will be considered your blood relative.
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?
Hi Venkatachalam,
You can consult your CA for the same.
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
Hi Venkatachalam,
You can consult your CA for the same.
How many money NRI real brother to india to real brother without taxable
Hi Ajay,
Gifts from relatives are exempt from tax.
If I give a cheque of Rs. 10lakhs to a friend, income tax department will question me
yes
My 1st cousin in Dubai wants to send money to me in India , what is the limit she can transfer
Hi Sujeet,
The whole amount will be exempted from tax.
If A resident Indian wants to gift to his/ her sister abroad money after selling a property , is it taxable in India?
Hi Revi,
owner have to pay the tax on the sales of property.
NRIs visiting India and going back to their country do they have to pay taxes on watch or jewellery.
Hi Surjeet,
Yes you have to pay taxes on watches and jewellery if u exceed tax exemptions limit.
How much can a parent gift to their children in UK without any tax.
Hi Varun,
No tax will be charged on the amount of gift parents give to their children.
I want to send cloth worth 10,000 rupees from UAE to india, do the receiver have to pay tax on those items
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.
Gifting large sums to father in India
Hi Vikash,
No tax will be charged.
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!
Hi Yash,
Any amount which is gifted by the mother to their children, will be exempted from tax.
Is it necessary to buy wallet gifts.. To received money from other country
My own brother is US citizen and OCI he has a purchased residential property in India,.How can he transfer that property to me.
RBS transferring 60000 pound by cheque of my friend into my bank in India. Do I have to pay gift tax in India
Hi Sunny,
yes you have to pay the taxes.
Why the gift of a Rosewood cot made by friend on house opening ceremony is exempted?
How can I pass my legacy to my son in usa without taxes in Isa and india
can a NRI give exact 50000 Rs to a non relative to avoid tax. or in other words exact 50000 is tax exempt?
Hi Sanjay,
yes exact 50000 rs. is exempt from tax.
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.
I live in abroad. I would like send 10 lakh to my dad for medical purpose. is it subject to any tax??
How much NRE money limit I can send from India to my sister in Australia
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?
I have two daughters who are staying in USA NRI resident. But I want to give my property, FD. what is the process
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?
my brother from usa is sending me 1.2 cr . will it be taxes
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 want to gift usd 3500 to my daughter-in-law on her birthday, will any one of us have to pay any tax?
Hi Keshav,
There will be no tax liability.
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.
Whether gift amount to US NRI (J1 visa) to his her Indian account is taxable in USA?
Can i receive money from Netherlands online friend?
Hi Puli,
Yes, you can
parents can gift residential plots to NRI
Hi,
Yes, parents can gift residential plots to NRI.
Can one NRI in US gift money to another NRI in US?
Hi Pradip,
Yes, you can.
How much can gift by nri to his/her relitives during the year any limit specify by it act
Can I an Indian National receive money by bank draft from a foreign national not related to me
Is gift in foreign currency from a relative received in india taxable?
Income from agriculture in Pakistan and brought to india will be taxable in which cases pls answer as soon as possible
Whether nri give gift from his nri account in ruppes to his younger brother daughter is taxable in India ?
Can I save taxes in US by gifting my shares to my mother in India
Amount from NRE account transferred to his sons account is it taxable
Hii Shada
It will not be taxable
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 want to gift to my son in Uk under LRS from India. Whether it will be taxed in uK
Hii Ajay
As per my knowledge, it will not be taxed.
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
My daughters lives in UK and USA and what kind of money I can gift them in a year
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.
Can A NRI Gif His/ her property to his/her father/ mother gift out affectation without any tax?
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
If anyone is send me gift then it’s duty will payable
How can an OCI holder receive agricultural land as gift? Is that possible?
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.
I am resident of Dubai and i want to send money to my brother account in india
Hii Pratap
Yes you can send money
Mother and son are joint account holder can mother give money as a gift to son from the same account
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
If my friend of uk foriener transfers 30lacks into my savings account in india is it taxable
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
USA citizen can gift his property/flat in India got from his mother to his sister
CAN HUF MAKE A GIFT OF MOVABLE PROPERTY ( Funds by TT) TO ITS NRI MEMBERS ?
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
Can I gift my NRI account money to SON NRI account without tax
Hii Charvi Ji
As per my kowledge you can transfer money without tax
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
I want to sell my property in india and send money as gift to my nri daughter is it taxable
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.
Gift Tax on Gift of property in India from NRI in USA to Mother in India
Hii Mr. JP Singhal
As per my knowledge their will be no gift tax to mother in India
My friend wanted to open an NRE account and wanna make my wife his Mandate holder? Is it lawful?
Hii Mr. Raj
It is allowed by Indian law
I am Sending some gift parcel from Australia to India to my parents . How much tax they have to pay in india to receive the parcel
Hii Suman Ji
As per my knowledge they don’t need to pay an tax in India
My son is nri sells his house in india and gifts amout to mother can he get tds refund and capital gain
Can an Indian Citizen make a gift of two lakhs into a friend NRO Account ?
Hii Sujeet Ji
As per my knowledge the gift can be made but it will be taxable the India gift tax NRI is payable by the receiver
I need to know that I sent gifts to my family in India do they have to pay customs duty and gst to receive the shipment?
As per my knowledge import of goods up to the value of Rs. 5,000/- is allowed as a gift, duty-free.
My friend sending me a birthday gift for me they said I have to pay 35000 rupees when I receive the package
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.
Hii Ish
It is more suitable to take advice from the tax consultant regarding tax treatment.
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?
Hii Radhika
As per my knowledge you can’t open an NRE account as only NRI and PIO can open the 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.
My Indian citizen mum wants to give me who is a U.K. citizen large amount of gift money. Does tax apply
Hii Meenakshi
As per my knowledge, it would not be taxable for your mother.
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
Hii Mr. Surinder
It is suitable to take advice from a C.A.
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
Can I create a gift deed to my father by being in Netherlands?
If someone sent a gift to India from Scotland what should pay from India
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?
Can I, a resident Indian citizen gift a flat to my OCI, french grandson
Have some questions regarding movable gift deed
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
I got approximately 2lakh rupees from a german friend.it is necessary to file an income tax return?
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?
Hii Mr. Ragunatha
As far as I know it will not be taxable
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
Gift from daughter from country having no taxes. What amount she can gift?
Hii Mr.Ajay
As far as I know their is no limit of amount which is taxable.It is taxfree.
Better to refer a CA.
My son his family is living in uk. I want to send some money to my grandson for his education
Hi John,
Yes, you can send money to Grandson
I am an nri. Can I give my property in India as a gift deed to my father in law
Hi Santosh,
Yes, you can.
Can NRI Daughter in law gift to father in law in shape of money and how much
Hi Ashok,
Yes, she can gift to father in law but it will be taxable.
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 .
Hi,
It is not taxable
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?
Hi Dinesh,
It will be exempt from tax.
My brother from austalia wants to gift australian dollars in cash to mg father in india .is it taxable
Hi Jayesh,
It will not be taxable.
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
Hi Savio,
As per my opinion, it will be exempt from tax in India.
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.
As far as i know it is not taxable.
How to bring large amount from india to canada
As per my knowledge you can use Form 15CA or Form
15CB
I have been asked to pay tax for receiving tax gifts from NRI
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.
If I receive from my father in India 75000 how much tax I have to paid
Hi Irvin,
It is exempt from tax
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
How much a senior citizen gift a grandchild abroad. Will i be taxed here
i want to order few gift items from india to usa as a return gift, i wantemukta
d to know if its permissible
I am an Indian resident Suppose every 3 months intervel I get 3 lakhs rupees from A person he /she is an NRI It is taxable in india What is its tax treatment? I don’t have any relation with him/ her?
NRI Brother gifts house to his resident sister. now sister wants to sell the house. purchaser want to deduct tds @20% as the first owner is nri. Is it correct
Hi Chaitali,
If brother gifts his house to his sister with proper documents, then no TDS will be deducted.
Can an nri daughter transfe a property to a resident parent?
Hi Sunny,
Yes, she can transfer it.
I want to gift 15000 dollers to my daughter in usa. I am a pensioner ( senior citize) how much tax will be deducted by State Bank of india
Hi Ajay,
It is not taxable.
Sending money to my son in Canada OIC is it taxable to me. Should I require to reveal in my itr
Hi Sekar,
It is not taxable but you should reveal that in ITR.
I want to sell property to my brother in India but we want to make it gift exchange. Is it legal?
Hi Sanjay,
If you sell the property to your brothers and if you get any consideration against it, then it will not be considered as a gift.
Can resident Indian transfer fund from his RFC account to his daughter who is NRI?
Hi Kazi,
No, you cannot transfer the amount from your RFC account to your daughter’s account.
Can NRI daughter gift property to mother , what will be tax calculations, can I buy that property if it is gifted by NRI daughter to mother
Hi Swapnil,
It is exempted from tax.
My father (an Indian citizen living in India), wants to give me (US citizen living in US), $1 million in gift. Can he transfer $250,000 to my bank account in the US? Since there is limit of $250,000 per year, can he deposit the remaining $750,000 in my NRO account that I can repatriate at a later date?
Hi Rick,
Amount transferred above $250,000 in an FY will be taxable.
what is tax laibility for me Resident Indian to send/gift to my Permanent Resident Son In Canada? and what is the procedure to remit?
Bhupal singh walia
Hi Bhupal,
There will be no tax liability.
Can a father send money to his son in US by way of gift
Hi Niyati,
Yes he can send money to his son by way of gift.
If I received some money from abroad on the behalf of my business partner’s bank balance after his death. Is that amount will be taxable in India.
Hi D.K,
You should consult with a CA regarding this.
An NRI in Canada is likely to get a flat in India worth Rs.1-50 crores inherited from her uncle.What are the requirements as per FEMA and Income Tax Act.
Hi Kersi,
You should consult with a CA for this.
My father works in US and he said he’ll gift me a mobile this year. Is it taxable at clearance
Hi Suguna,
It will not be taxable.
I am an Indian living in the UK. My parents wabt to send me  £100,000 as cash gift to purchase a property here. Do I need to pay tax on that money here in UK?
Hi Satviky,
You should consult with a local tax advisor there.
How frequently and upto what individual and total sum can I receive from and give to my NRI son ?
Hi Bakshi,
There is no fixed time & total sum prescribed.
My son moved to US for studies acouple of years ago and now is working on H1B visa.He has a joint savings account in india with me. Can he transfer money from his indian account to usa
Hi Renu,
He should open a NRE account to transfer the money to USA.
For transferring flats to children who are USA citizens what are the documents required
Hi James,
You should consult with a CA for this.
Gift in foreign currency from friend received in India on June 2019 Rs.80000.This income is taxable in case of Resident and ordinarily residentResident and not ordinarily resident Non Resident
I have given money in India to one relative about 30lac do i have to declare for ITR
Hi Pooja,
Yes you have to declare that.
i want to gift 10 lacs to my son living in USA is their be tax liability for both
Hi Shyam,
in India there will be no tax liability.
Person from New your send me Pavel of gift which I don’t know what is there now I am receiving calls percel with your name is contains jwellary and cash so you have to give remmitte can and tax yet not received
If i received gift in india and form USA and which is cost of above 90 thousand then deplomats directly deliverd to my place or i have to take from indian deplomat office.what would be delivery charges i have to pay.Kindly guide me.
Hi Sangita,
As per my knowledge, You need to Collect it.
As an NRI, can I send money to my Son’s Friend at india
Hi Varun,
As per my Knowledge, Yes,You can do it.
Can a nri send money to their parents savings account from US to India.. if they can send how much can they send at max for a year
Hi Laxmi,
There is no Limit in India, Its better to Consult in USA.
Does gift from Resident Indian to his NRI son in the form of money transfer to son’s NRO account, comes under USD 1 million per year category or LRS category limited to USD 2.5 lakh per year. LRS is only for outward remittance from India to US NRI account by a Resident, I suppose.
If my cousin send 50 thousand. USA doller to my nre account directly is taxable
Hi Mohammed,
As per my knowledge, Yes it will be taxable.
My daughter who is foreign national wants to send gift to me. what is maximum amount i can receive without tax liabilities
Hi Karker,
As per my Knowledge, the Amount Gifted to a Relative is not taxable in India.
What is meant by NRI?
My son send money from USA in my a/c from his salary ₹10 laks per year.is it under income tax?
Hi Ravi,
As per my knowledge, It will not be taxed.
Can resident indian gift cash of 30 lakhs to nri son ? What are tax implications
Hi Cyrrilraj,
As per my Knowledge, In India It will not be taxed.
Can you pls advice the best option to send 40 lakhs to nri children by indian resident ? Transfer to account in india or otherwise?
I want to send some money to my cousin brother in USA.. I live in India.. how do i do it
Hi Emmanuel,
As per my Knowledge, You can do the Bank Transfer to his NRE/NRO account.
can I get any small amount as gifts in my NGO account from USA
Hi Pitar,
As far as i know, You can get it but before that consider the Guidelines from RBI.
Foreigners can send gift money means Through courier is the best otherwise Bank transfer is the best
Can a person holding nri account in India transfer money to wife account in India as gift
Hi Sunny,
Yes it is possible.
My brother in law who is an NRI wants to transfer funds to my sisters India saving account , around INR 14 lacs. He wants to temporarily do this as he is shifting jobs so is it possible for my sister to return the money back from her Indian account?
my friend want to send gift to me he is from us and I’m from India so if i received the gift how much i have to pay it
Hi Pawan,
As far as I know, if the Gift amount exceeds Rs. 50000 then it will be added to your Income.
Can an NRI dad resident of dubai, gift a flat in dubai to his indian resident daughter. And if its rented there and the proceeds are used there itself, does she need to declare such rental income here.
Hi Janaki,
As per my Knowledge, Global Income Needs to be Declare in India.
My sister wants to leave America and come back to India. How to get all her assets brought
Hi Dorothy,
As per my Knowledge, Its better to consult with a Tax Consultant in USA First, Then you can take a Help of a Financial Advisor in India.
My nephew is in Canada I want to gift him 9000cad because he is buying a house can I send him by bank without tax
If I want to send Rs 20000 as a gift to my friend in USA who is an American. What is the procedure and implications
I am an OCI and I want to gift my flat in India to my sibling. Anything I should be worried about in terms of tax etc?
Hi Joe,
Its better to Consult with a Tax Consultant.
How much money can my parents gift me and my wife from india? We are Indian citizens on work visa in US? What are tax implications and limit.?
if I’m gettting money from my sister who is nri will I have to give income tax for this money
Hi Puneet,
As per my knowledge, No You don’t need to pay Tax on it. Make Sure You prepare a Gift Deed.
if I’m getting every month 1000 to 2000$ from my sister(real) who is nri usa. do I need gift deed of every month
My cousin ( Real Uncle’s son) is a US citizen, residing in US, wants to make gift of Rs.20,00,000 to me resident, ( an indian citizen by birth).
Please specifically advise if:
a) This is allowable as free of tax to him & me?
b) What is maximum limit for such tax free gift he can make me? Is this maximum limit of gift applicable for one Financial Year or life term basis?
c) What formalities or say documentation required toi make/accept such gifts?
List out the steps of action required.
d) Please share the Gift deed format required by I T Authorities in India as an acceptable & complete document.
Would be thankful if provided needed authetic information addressing above querries.
Regards
D K Gupta
Can an NRI give gift to brother in india and would he be considered as relatives
Hi Shashikant,
As per my Knowledge, Yes Siblings is Considered as Relative for Gift.
Want to send rs to india monthly will it be taxed for senior parents
Hi Parul,
As per my knowledge, It will be Consider as a Gift and will not be taxed.
What is the limit in INR an nri can gift children
My daughter and son both are NRI. That want to send air ticket .I want to know how I will show that in my itr
Hi Deepansu,
As far as i know, There is no need to Show it.
Indian parent wants to gift by way of bank transfer to son in USA for wedding expenses …… is it permissible or any tax implications for both
Hi Satish,
As per my Knowledge, There will be No tax in India.
1.We have a Construction company
2.An investor from Australia wants to invest in our company
3.he wants 15-year agreements
4.He is willing to transfer 20 percent as a gift amount
5.remaining 80 percent as loan amount for fifteen years
6.we are not any relatives.
7. What is the best option…
A) should we go for full 100 % as gift amount
B) Should we take 80% as loan and 20% as gift
C) what will be the tax implecation on receiver ( on our company) D) the amount of investment is approximately 75 crores in indian rupees..
looking forward for your kind guidence..
Hi Pavan,
As per my knowledge, If you Received it as gift then it will be taxed as the Investor is not Considered as Relative. If you go for loan option you can claim the Tax Deduction on the Intreset paid.
When i get a amt of 5000 usd is it taxable in india
Hi Pawan,
It Depends from whom (Relative or Non -Relative) you are receiving this amount.
My mom has a FDR in india. Because of covid 19 she is not able to go.Is any procedure can i cash it if she gives it to me. We are in Canada
What is the maximum amount of gift I can give my NRI son from my Indian resident account to my sons Indian NRO (non resident ordinary) account
If a face book friend want to send me money what is important for me to do if my friend is from europe
Hi Ajit,
As per my knowledge, You need to register the Gift deed and also need to show the Amount of Gift while filing ITR.
Gift in foreign currency from a relative received in India amount is 80000…..is that amount taxable?
Hi Niharika,
As per my knowledge, It is non taxable.
Gift from NRI to sister’s son in India is taxable
Hi Thakor,
As far as i know, Yes it is taxable.
My father want to send money near about RS 700000 from India to aus .what is procedure?
What will be the tax if I gift money to my daughter who lives abroad?
Hi Umarani,
i think in India it won’t be taxable.
I am an Indian likely to receive [email protected] gift of $ from a US citizen. What is the maximum amount can I receive? What will be the tax implication?
Can a sibling receive money from NRI?
Hi Vipin,
Yes, a sibling can receive the gift.
I am receiving money from my son the USA to buy a property i India is it taxable in India?
Hi Annasami,
As per my Knowledge, It will not be taxable in India.
Someone sent me parcel from UK and the amount is 45000 pound .how mich tax i pay in India to receive the parcel?
Hi Sanjay,
As per my knowledge, If the gift recieved from Non relative it will be added to Income.
Can grand parents resident in India transfer money to minor grand children staying abroad ? What is the monetary limit in a financial year?
Hi Rajappa,
As per my Knowledge, The Upper limit in a financial year is Upto 1 Million USD.
Can NRI give money in dollars in USA and get that money back in rupees in India what are tax implications?
Hi Akshat,
As per my knowledge, If the gift is received from Non-Relative then it will be added to Income from other sources.
I am a NRI and want to remit the funds to my mother from my NRE account as a gift whether it is allowed?
Hi Meenal,
AS far as I know, Yes You can do that.
If NRI give money to his wife for investment in business does wife have to pay tax on that amount?
Hi Jatin,
I think if you give it as a loan then she doesn’t need to pay any tax on it.
Hi dear, my aunty lives in New York City USA if my aunty wants gifts to me her own property is possible if possible how is the process
I received a gift from NRI more than 30 lakh is it problem for me
Hi Mamatha,
You need to show the source of the Fund While filing the ITR.
Can my Sister. A US Citizen gift me shares of a Company in Seychelles?
Hi Ramani,
As per my knowledge, Yes She can gift within the Permissible Limit.
I am OCI. I want to start organic farming in India. I know OCI can not purchase farmland however my uncle is ready to gift my five acres land for organic farming. Can I receive it
Hi Uma,
Yes, you can receive it.
How much us dollars can I gift to immediate relatives with out any tax problems for them..I meant tax free for them.
I am staying in the USA ON H1B visa I have my capital in India and want to send it to my account in USA can I do so and m I liable for any tax?
My son lives in UK and wants to send money to us. Will it be taxable?
i am nre in dubai. want to send 20 lacs INR to my sister saving account in India. want to know tax implication for my sister.
Hi Hiren,
The gift amount will be added to her income and taxed as per the slab.
I am a European passport holder with an OCI card. My father’s brother who is Indian wants to gift me a property in India. Could you please advise if I must pay gift tax in India ? I know that i must pay gift tax to my Government anyway.
Hi Raman,
As per my knowledge, If the DTAA is signed between the two governments then you can claim the tax refund from one country.
What is needed to transfer money from US to India for my family?
Hi Chetan,
You can tranfer the Money from Your NRE account to family Resident account with the Consultation of a CA.
I want to check how much money can my husband who stays in USA can transfer to me (I’m in India) which is tax free for me and my husband?
Hi Aditi,
As per my knowledge, the Gift received from the relative is Non-taxable.
how to gift property to parents in India?
My daughter who in NRI in US want to gift me 1 Lac dollars and I want to invest that money for purchase of a property in India. Will that money will be taxable here and also can I get that money in one go?
Do we have to register this gift deed somewhere?
What is max limit that my daughter USA green card holder working in USA can send money as gift to her mother?
My son lives in the US. A flat was bought in2004 with bank loan. The registration was done both in his and mother’s name. We live in his flat here in India. After about 10 years the balance of loan was paid off from his mother’s funds, accepted by the bank. Son is contemplating to gift the flat to his mother. Now as such in the present environment is it possible to effect on-line transfer U.S to INDIA.
My son is NRI in the USA how much amount in Indian currency he can gift me.
My Funds lying in the NRE account can be transfered to my son NRE account as gift to him?
Hi Hemant. Can I check if I can send gifts such as cosmetics to my family back in India and not get taxed on it? I am an NRI and holder of Indian Passport Holder based in Singapore. I would typically use a corporate DHL account to ship. Any tips ? Thanks
Do we have to register or notary for this gift deed also if doner is in USA and receiver is in India can what will process to make sign on gift deed
If i send a remittance to my daughter in Sweden from my India funds will it be taxable as a gift tax in sweden?
Hi Rohini,
As per my knowledge, you should consult with an tax consultant in Sweden
I am an Indian citizen and want to give 150000 USD as a gift to my brother under LBS .Should I have to pay 5% TDS on that amount?
Can my daughter who is a resident of Canada gift me ( father ) money to my resident savings account in India. Any limit and any tax is there
Transferring amount from nre account to parents resident saving account is taxable?
Hi Naitik,
As per my Knowledge, It won’t be taxable up to a certain limit.
How much money I can gift to my brother-in-law from USA tax free?
How much money can my sister from the USA send to my wife’s account ?
My friend is in Canada and he is a Canadian citizen who bought a property in Bangalore in the year 2003. He wants to gift it to his friend in India. what are the permissions required to be obtained from RBI?
How much money can parent send abroad as a gift?
I am expecting a monetary sum from my NRI relative in the US. What will be the tax charged to me?
I m going to sell my house in India n me n my daughter r US citizen. Can I gift her that money from the sale of the house?
My mother is a resident Indian. What amount can she gift to my NRI sister in cash, bank transfer without Income Tax provisions?
I am senior citizen and my sister in USA wants to send money as gift. How much she can send so that tax is not levied.
Can a Canadian wife of Indian Origin husband receive money inherited by him from the property?
Selling property and want to gift money, do I have to pay tax?
If I get money from my relative in USA. How much can i recieved in my bank
I am an NRI and want to gift my house in India to my mother. do i need to come to India to gift the property?
Hi Vijay,
As per my knowledge Yes you need to be physically present to register the property under your mother’s name or if you have a power of attorney then you need not come to India.
My father just got a friendship from a person from UK as we only have a few months of knowledge. Two days ago he asked for our address and we gave him. He said that he need to send a gift and we decline it. but yesterday he send some expensive items and about 50000 dollers in it. And to today morning there was a call they said it was from customs and told as to pay about 35000 .we cheked the no in truecaller but there was no number .so we said him that we can’t afford much money.so can we bow return this gift?
Hi Meghana,
As per my knowledge, you will not be able to claim the custom duty back and, Yes you can return the gift but that will incur courier charges.
Can I deposit Rs.50,00,000 in the nro account of my son in USA pl as a gift to him?
Hi Ramaakrishna
Yes you can.
Can my brother who is an NRI gift his shares of India to me? Does it require gift deed?
Hi Ajay,
Yes he can. It doesn’t require any gift deed.
I got a gift from us and I received a call from the customer’s office why they call me.
Friend who is staying in UK wants me to add money in Amazon wallet against that she will send money on my bank account in India while paying tax will this count?
Hi Tanu,
As per my knowledge, Yes it will be Counted for tax.
Money deposited as a gift by my father in India in my s nro account is transferred to my sb NRE account and from sb NRE it is transferred to my USA account. now, how can i show to USA authority that this money is received into USA account as gift money from my father to me?
How much money I can send to my NRI brother staying sydney?
Hi Sharayu,
As per my Knowledge, In India there will be no taxation on sending gifts to close relatives but the receiver’s taxation will depend on the other country.
i m an nri staying in usa. my father gave me a gift of rs. 5 lacs . he deposited this money into my sb nro ac. in india and this amount from sb nro accouunt is transferred to sb nre account in order to transfer the amount to my usa acount and subsequently the amount of rs. 5 lacs is transferred from my sb nre acHcouunt to my usa account. what r the precautions and documents etc., r required by me to show to usa tax authorities that this money is transfferred to my usa account towards gift bby my father to me?
I am a NRI living in Germany. I have following immovable properties in India. 1). a House worth 25.00.000 INR and 2). a residential plot worth 40.00.000 INR. I want to know the follwing:
1. I want to gift these properties to my sister, resident of India. Does she or I have to pay, for this gift-transaction, TDS or any Income Tax in India?
2. If my sister sell these immovable property in India, does she have to pay TDS od Income tax in India?
3. Can my sister gift me 50.00.000 INR by bank transfer, in my NRO bank account in India, in future (after 2 to 12 Months), after selling these properties. Does she or I have to pay, for this transaction TDS or any Income Tax in India?
how much tax free gift money can NRI receive from their parents in India
Hi Sahil,
As per my knowledge, the Gift received from the Relative will remain tax-free.
Gift from freind in Germany received there whether it is taxable or not?
Hi Sameer,
As far as I know, if it exceeds Rs. 50000 then it will be taxable.
Can my friend NRE account holder transfer money to my NRE account if so any limits.
Hi Ravi,
If the gift limit exceeds Rs. 50000 then it will be taxed.
What do you mean if a gift exceeding 200000 is given in cash to NRI relative it will attract penalties from income tax. I transfer money through my bank will income tax department will impose a penalty if I remit more than 200000.
I would like to gift Rs.15 lacs to my sister who is an NRI, residing in the USA. How can I remit this amount to her?
Suppose I live in the Uk and am a national. Can I receive financial help from my relative in India to make a house purchase in UK?
If we receive any gift from the UK to India. From relatives or nonrelatives. Like cash or worth full gift. In India we have to pay GST it’s compulsory.
If a Resident Indian gives gifts of 50,000 each to more than 1 NRI, both of them non-relative, will there be any gift tax implication for Resident Indian?
If I send 50 K to someone who has already received 50 K by someone else in India. Will 100 k be taxable to the Indian citizen?
Hi Richa,
Yes if the amount of Rs. 100000 will be received from Non-Relative then it will be taxed.
I want to gift my daughter staying in the USA. Within the tax limits .how much and how.
Hi Mr. Ranga
As per my knowledge you can gift up to $14000 as a tax-free gift.
if I send money from abroad to my sister-in-law, is she taxed?
I have transferred RS into my father’s accounts. Is it taxed in India?
Hi Vikas,
As per my knowledge, it will not be taxed.
How much money can be received from overseas as GIFT and does the transactions trigger RBI?
My son is in the USA he is transferring money to my account in India, and I am investigating such money to buy a residential property, does it taxable?
Hi Sushma,
As per my knowledge, it will not be taxed.
Is there a penalty on premature redemption of FCNR tenured for one year in HSBC bank?
If I am a citizen of the USA and an OCI of India – I have NRO accounts there. But if I want a relative to transfer money from there to my US account. How can I do that legally and what are the limits?
Hi Himal,
As per my knowledge, You can transfer up to $14000 as tax free gift if you are relative.
I am a Nri and how much money in INR can I gift my parents in India.
I am Indian my brother is having business in Singapur, he is giving me a gift in terms of us doller through cheque.
My mom who is a resident in India wants to gift me and my sister money. I am in the USA. Can she gift both of us $15000 each without us reporting for gift tax? Also is there an RBI regulation for a 7 lakh gift in India ?
I want to send 50 lacs INR to my son, who is citizen in australia, is there any tax on it?
My mom is an Indian resident and wants to gift me Rs 4 cr from the sale proceed of a residential property ( she will pay all gain tax etc ) whilst I’m a foreign national with an OCI card. Can she transfer my money directly to my overseas account and make a gift deed for the amount of $550,000 or give me the gift in India and I convert it from my NRE account and remit it to my account overseas without paying any taxes? Please advise.
I am an OCI seeking to gift rupees of 2,00,000 to my nephew in India. I understand as the amount is more than 50,000 Rs there would be tax implications for him. I had read somewhere that he would need to give an undertaking that he would pay whatever taxes are owed in India for that money. what letter is required for that in addition to a gift letter? Would you have a template I could use? Thanks
Does a foreign national who is resident in India have to bring the gift of movable to India which he receives from another foreign national?
What is the documentation for receiving gift in India by NRI?
Is there any tax liability in the US if I get cash/bank transfer from my brother in India?
My elder sister wants to gift a piece of land out of love. I am US citizen. She is an Indian citizen. will this be taxable?
Hi, Thank you first. I am a resident Indian. I want to send about Rs.40L to my employed son in U.S. IF I SEND IT THROUGH A BANK TRANSFER WHAT ARE THE IPMLICATIONS LIKE TCS. CAN THAT BE POSSIBLE TO CLAIM BACK WHILE SUBMITTING RETURN AND HOW MUCH BACK.
Gift is to be received in Mumbai from canada gift is in custom office. How this can be received?
Want to gift permissible amount to my grandchildren in the USA through my Indian bank account . Do I need a gift deed done.
My NRI son wants to sell the property which he 12 years back in India how much capital gains tax will he has to pay?
I won’t send 60000 euros to my son in Germany. Do I have to pay tax?
Indian citizens getting property abroad in gift, does that Indian citizen has to file any paper work for this in India.
Indian Citizen If Get Any Residential Property Abroad as a gift (Having no rental income) so do that Indian citizen need to file any form in India stating his property received as gift abroad (having no rental income).
My daughter is in japan and is planning to buy a house property. Can i send money from india and if yes how much and the formalities thereof?
Is gift of 50,000/- Dollors by a sibling’s husband during FE- 2020-21, taxable?
My Daughter & Son in law are PR holders of Canada & I, father resident of India ( Indian Citizen). How much I can gift them in an financial year without tax liability in India ? Is there any slab for such transaction?
As an NRI husband , can I give a gift of 1 crore to resident wife for her to buy a flat in India ?
Indian Citizen If Get Any Residential Property Abroad as a gift (Having no rental income) so do that Indian citizen need to file any form in India stating his property received as gift abroad (having no rental income)
Indian Citizen say Mr. M If Get Any Residential Property (House) Abroad as a gift from Mr. C (Having no rental income from that residential property and Mr. C living in that home ) so do that Indian citizen Mr. M needs to file any form or any paper work in India stating his that house property received as gift abroad (having no rental income)
I am a nri. My mother who is 80+ yrs old want to gift money to me. Can she prepared future gift deed as money is tied to investment.
my uncle daddys younger brother is an NRI who want to give me gift in cheque above rs.100000/- to his nephew who is an indian resident. whether that amount is taxable.
We were visiting India recently. On our 50th wedding anniversary, we received 2 gifts (each less than INR 50000) from close relatives while in India. Am I allowed to deposit cash (Two deposits- each less than INR 50000) in my NRO account? I am a person of Indian origin settled in USA for past 50 years.
If a non indian friend wants to gift me a 3bhk property worth 2 cr, will it be taxed and is there a way?
If my son (US citizen) opens a US Trust account in which I(Resident Indian) and my grandson (US Citizen) are the beneficiaries, and if that Trust account sends any funds to me in India, will I have to pay tax in India?
I am NRI, can I gift 1 crore rupees to my wife? What is the procedure to follow?
Conversion of INR 700000 in CAD showing as a gift from Dad will it attract any tax in India?
I want to gift to a distant relative who got married. I want to give 4 lakhs to him to buy some utility items as he married recently. I’d like to know if I have to show in return for IT?
My NRI son has in this fy gifted her mother Rs. 2 lacs by bank transfer is there any Tax implication?
From the proceeds of the sale of the property, a person would like to send money to their son in the USA. It is understood that there is TDS for such transfers. What is the maximum limit that one can transfer? Does this rule has exemptions for purpose of transfer like gift or family maintenance?
What would be the total cost for the transfer of ownership flat (gift deed) without any exchange of money from sister to brother? Catholic from Mumbai holding an NRI Card. Thank you!
Hi, I am an NRI residing in UAE for more than 10Years. I want to send INR 20 Lacs from my ICICI NRE Saving A/c to my wife saving a/c who is a resident Indian. She will use this money to buy agricultural land in India. What will be Tax Implications for both of us?
Can a resident Indian who owns a Co outside India offer full of those shares (100% of ownership) along with retained earnings as a gift to his sister, treating it as a gift with full exemption from Indian income tax on his global income relating to those shares?
If I send money to my mom does she have to pay tax in India?
How much can an NRI husband gift to her Wife in a year? The wife is a resident Indian and not NRI.
My son is in the USA and is NRI. He wants to know, if he invests in the Indian stock market directly to equity, now and let’s assume that he earned 40*/* return on sale within 1 year /2 year. In that case, what will be the tax impact in India? And how he can transfer that money to the USA? What will be tax impact in the USA, while he transferred these money to USA. Currently, at USA, he is in highest bracket of tax.
Hi Prakash,
As an NRI he can not invest directly in stock market. He has to open a PIS account.
for more details you can click on below link.
https://www.wisenri.com/pis-portfolio-investment-scheme-for-nri/
If I send a gift of 35 lac to my son, will I be taxed?
Hi Kuryan,
No it will be tax free.
Can we send a surprise gift to NRI by just knowing his place, name, phone no. and company name where he is working.
Are gifts made to a Resident Indian by an NRI from his NRE Account exempted from tax fully?
Hi Venkat,
Yes it will be free if gift receiver is a relative of NRI.
I am planning to get money from my mother in the NRO account? about 5 lakhs what is the tax implication
?
Hi Kujankumar,
It will be tax free. But the interest in NRO account will be taxable.
I have an NRI account, I want to transfer 5lac to my sister’s account. She has an account in an Indian overseas bank.
Hi Kanika,
You can transfer to your sister’s account. there will be no tax.
My sister wants to gift me INR 18,00,000. I need to know if she transfers it through the bank will she have to pay tax.
My son is an Australian citizen. He is facing hardships there. Can I gift him money after selling my plot which I have inherited from my father through a will? How he will be taxed? what will be my tax liability in India, if any for me?
Hi Rakesh,
Yes you can send him money and there will be no tax in india. You have to pay long term or short term capital gain tax.
Can I Indian gift my assets to my son who is British.
Hi Gopaldas,
Yes you can.
I and my wife have been receiving funds from my son in the US ON H1-B for quite some time. Now with my advanced age and of less need, I would like to send back as much as possible. Those amounts have been shown as Gifts in some years and Ln in year’s return. Now, what is the possibility and liability in the present scenario?
Hi Sunderesan,
You can send it back to your son. you can send it up to a limit prescribed by RBI.
If any Indian resident parents, father, or mother gives money to NRI Son in the USA for maintenance as a gift, will this money be taxable in the USA for the son in the USA?
Hi Uday,
Money up to $15000 in a year is tax free in USA.
I have received money from my cousin in Uk is this taxable.
if I send a new cellphone as a gift to my wife in India, how much tax she or I need to pay?
HI Shahbaaz,
There will be no tax.
if any Indian resident parents, father or mother gives a money to NRI Son in USA for maintenance as a gift, will this money is taxable in USA
Hi Uday,
Money up to $15000 is tax free in USA.
Can my sister in US gift me an ipad and send by post?
Hi Deepak,
Yes she can.
My wife’s brother who is NRI wants to gift me, my wife & 2 daughters in a cheque, what are income tax implications on these gifts? Can he transfer directly from his US account or he has to transfer to his account in India and then transfer to us?
If the gift value exceeds the value of Rs 50000 then it will be taxable for you and your wife as per the tax slab. and if your daughters are minor then it will be added to your income and will be taxed accordingly. He can transfer the money through his US account also.
Gift received outside India from a friend is exempt of income or not?
Yes, it is exempt if the gift value is within Rs 50000.
If someone sends a gift to Delhi from UK so courier service charges I have to pay.
Yes, you have to pay the courier charges if you send the gift from UK.
Can a property be bought by an NRI in the name of his son and later on once it is sold can the proceeds come to the NRI account?
Yes an NRI can buy the property in the name of his son and he gets the money in his NRI account after paying
tax on short term or long term gain.
Gift by Indian to his Nri sister limit is how much?
The limit is various in every country. In the US the gift limit is $15000 in a financial year.
I want to gift money to my children in the USA? What is the procedure and how much can be sent?
You can send the money to their NRE or NRO account. you can send $15000 in a year.
Can my mom’s sisters give her property as a gift to me? She is an OCI and I am also an OCI.
Yes, she can give you her property as a gift but it should not be agriculture or farmland.
How much NRI can gift to his daughter living in India?
There is no such limit on sending gifts to relatives.
I am a foreigner studying here in India and my cousin from Australia wants to send me a watch as a gift. The value of the watch is 15700rs is it going to be taxed? Thank you
It is not taxable as the value of the gift is within Rs 50000.
how many residents an Indian can gift to UK NRI without paying tax in India?
An resident can send $250000 in a financial year to UK NRI.
A gift parcel was sent by my friend from the UK with some gifts as well as some currency inside as a gift to me. but in India after reaching the parcel they asked to pay 25000 as a transport service. ok, I paid for that. later they scanned the parcel and said this box has currency in bulk. so need to pay a penalty of 50000 rupees. ok, it is also paid. but now they r again asking to pay 45000 rupees for the exchange of UK currency.Ok now what am I saying is that if I get the gift parcel along with foreign currency later I can exchange. why I have to pay for that.is Delta Courier Delivery company from the UK to India a trusted company?.is it true.
You should consult with your tax advisor about this.
My uncle had german passport but he has some parental property in india which he wants to gift his brother in india. Is this possible to do so?
Hi Saurav,
Yes, this is possible.
Is money gifted by nri son to mother in India are subjected to tax benefits?
Hi Abhishek,
Subject to the limit the amount is exempt.
Can my NRI real sister give 50 lakh gift through money transfer without any tax implication?
Hi Mukesh,
I think there would be some charges on money transfer for that.
My NRI son wants to transfer money to me for purchase of car . Whether gift tax has to be paid and any gift deed has to be signed by my son?
Hi Viswanatham,
I think their would be no requirenment of gift deed.
I am a person of Indian origin (holding US passport). I received 2 gifts each under INR 50000 from relatives on our 50th wedding anniversary. The funds were deposited in NRO account. Why I am receiving emails from the Indian bank to specify the source of funds.
You should consult with your tax advisor about this.
My wife and I are NRIs I want to gift my flat in India to wife. How can I do that sitting in USA?
Hi Adwait,
I think for that you should be present in India for the formalities and deed.
Can my sister transfer (gift deed) her ownership flat to me having an OCI card and how much would it cost? What documents would it require since I don’t have an Addhaar Card? We’re Catholics from Mumbai! Thank you!
Do i have to pay tax if my sister in london sends me money in my savings account.
No, it is exempt for you.
If I send money from Australia to India, the receiver need to pay tax?
If the receiver is relative then it is tax free otherwise it is taxable if the amount is above Rs 50000.
how much money I can give to my daughter as a gift,I am an NRI and my daughter is 21 years old.
There is no such limit.
Thank you. Could a resident of India send money to Russia for a citizen of Russia? recipient and sender are not related
Yes he can send the money (limit prescribed by RBI)
If an NRI wants to gift some money to his cousin, her husband,& daughter, will it be taxable for them in India?
No it will be exempted for them.
I am a resident Indian and want to sell a property and pay IT and gain to be transferred to my wife who is NRI. Is it possible?
Yes it is possible.
I got money from my brother, who was staying in u.k He transferred money 250000 dollars to my account first time to village account. Now in Indian rbi people asking to pay charges to pay 40000rps.
You should consult with your tax advisor.
I resident in India gave a gift and deposited it to my daughter’s NRO account. Can she transfer to NRE or to the US?
She can transfer to NRE Account.
If I get a donation for my & my sister’s daughter’s from a foreign country, is it attracts tax in India, and what is the purpose code for that?
One of my friends in Turkey sent me gifts worth 1,00,00,00. How much will be the tax clearance money in India?
Is the money send to my relatives abroad considered as a component of the capital account?
What is the customs duty on a gift received from an NRI relative from abroad?
How much can give a son or daughter in law in the USA gift amount without tax?
I am an NRI, can i gift my property to my father to avoid ant Capital gains and once my father will sell the property , he can transfer the money to me as a gift ?? is there any time limit like after how many months/years of sale of property he can gift me that money?
Hament, uncle wishes to gift niece ₹20L as FD nominate sister-in-law. Is there any tax implications?
hi Mr. Hemant,
i am a NRI and want to gift my mother 15 lakh. she wishes to open an FD.
as per your article
1. giver and receiver will NOT be taxed.
2. Tax will be leived only on interest generated on the FD.
as of 2020 is this correct ?
thank you Sir.
Hi, May I know whether you got the answer for your query? I too have the same doubt,
NRI to receive from Indian citizen. Uncle (chacha) can cash gift Rs 20L x 2 to 2 nieces? What is tax implications.
Is money transferred to a foreign nationals in India taxable?
Hi Joseph,
As per my knowledge it is not taxable.
what is the limit for for exemption in case of gift from son and daughter who are citizens of say Australia, gift is money transfer through bank.
Hi Harbans,
In India the limit is Rs 50000
How can it be taxable if it is from relative? Son /daughter in this case.
I have a friend in scotland, he wants to send me some money as gift, so i would like to know the rules regarding receiving such gifts.
Hi Sreelatha,
There is no such rules in that but you have to pay tax on whatever amount you recieved.
Hi Sreelatha,
The taxfree amount is Rs 50000.
I am PIO . What will tax implications if my parents gift me cash.
Hi Tilak,
The taxfree amount is Rs 50000.
Hi Tilak,
As per my knowledge, the cash gift will be taxfree
I want to gift tesla roaster car to my friend in india and i live in USA, how much will it cost to me?
Hi Himanshu,
The exact amount is depend on the value of the car so as the import duty .
I a resident indian wish to send INR 75,00,000 (equivalent to 1,00,000 USD roughly from India to my USA citizen daughter, what are the taxes involved for donor and the done ?
From 1st October 2020 on Foreign exchange remittance gifts, beyond Rs. 700000/- per year there is a tax of 5%. It is a tax, nether refundable nor credited to your Income Tax. It IS a TAX.
Mr. Ravindra. It’s not that way. This 5% TCS can be adjusted Vs. Your I.T.dues of next year. You can claim refund of the balance amount.
Why my cousin has to pay GST on used clothes parcel?
Hi Sobhana,
Normally GST is charged on the transaction value of the goods. However, in respect of second hand goods, a person dealing is such goods may be allowed to pay tax on the margin.
What tax implications do I have if I want to gift 50,000 pounds from India from my bank account to my daughter in the UK? Does my daughter need to pay any tax?
Hi Kani,
As per my knowledge she don’t need to pay any tax.
It is mentioned in the initial part of this useful Article that in case of gift of Imm Property to NRI, Sale Proceeds should not be > $ 1 Mn per annum.
Sale Proceeds do not trigger in case of gift.
Please give your feedback.
Thanks & Regards
I am a NRI living outside India. I want to transfer a property in my name in India to my wife via a gift deed. As she is not able to travel to India at this time, can we execute the gift deed outside India and then register it in India when I travel. Does she have to travel to India for any part of registering the gift deed?
Hi Vic Mehta,
I think for the deed your wife should be present in India.
Once we become resident Indian, is gift to relative taxable?
Hi Hareeshn,
It depends on the value and type of gift.
Son who is abroad , purchases house for his father and mother , what are income tax implications for father and mother in India?
Hi Abhishek,
I think there will be no tax implications on them
i am settled in Australia as a permanent resident. My Indian pension is being credited in my NRO account in India. How can i accessit from here?
Hi Sarangapani,
You can easily access it through online banking.
I am sending money to my father from UAE. Which he invest in stock. While filling ITR where to mention this money & what is the tax he have to paid on this money
Hi Amin,
As per my knowledge ,the income will be taxable according to the tax slab And it would be mention in other source of income.
I know that there is a tax-free limit of $14,000 per year while receiving money from the United States. When does this clock reset? Every January?
Hi Shreyam,
Yes, in US it is January.
do I need a gift deed to transfer 3700000 INR from my NRO account to my dad account in India?
Hi Vedparkash,
It is not mandatory to have a deed for cash gift.
I have an NRI account. Do I need to have an FCRA account in order to receive money from abroad again?
Hi Ajit,
Yes, if you want to have a foreign currency in your account then only you need to open FCRA account.
My Indian friend wants to deposit cash in my NRO account. Will it be taxable in India?
Hi Ravi,
Yes, it will be taxable.
Gift received for foreign workings from abroad is included?
Hi Sanju,
I think it will be taxable.
how much money can a mother transfer to his son as a gift without tax?
Hi Sameer,
The limit is Rs 50000.
My friend in the USA he is an American citizen he wants to send 5000 dollars to my Indian savings account is there any problem with me withdrawing the money
Hi Raju,
Yes, i think there would not been a issue in withdrawing the money.
Can a NRI from Singapore bring jewellery for his own sister wedding without attracting custom duty?
Hi Dipak,
As per my knowledge yes, you can.
My NRI son wish to gift me a car on bank loan in my name and he will repay monthly thru my domestic account, am I liable to pay income tax in this process.
Do we need any deed .
Hi Philip,
As per my knowledge ,a gift from a son is exempt as per Income-Tax Act and there is no specific disclosure required for this amount.
I am an NRI based in Dubai. My father is Indian residents and wants to gift his property to me. Do any of us have to pay any tax in India?
Hi Ravi,
As per my knowledge, you both are exempt from tax.
Will gift received by a Resident Indian Father from a son studying on an F1 Visa in the US attract any tax. Will income generated out of such gift be taxable in the hands of the Father or the son?
Hi Sanjay,
I think you both are exempt from tax subject if a gift is under Rs 50000.
since son is a relative I think the entire gift is exempt and the Income derived from the gift will be taxable in fathers hand
My friend in Singapore wants to gift INR 4 Lacs, pls suggest if any tax complications and do we need a gift deed against the same.
I want to invest in the FDs of NBFC in the name of my daughter who is an NRI in the US. What are the tax implications for both?
If I Transfer Money NRI to Normal Saving Account. Is it taxable?
Hi Vivek,
Subject to matter to whom you are sending the money.
Do we need to pay tax for savings (not NRI)account if we transfer money from abroad to India?
I live in India and I want to send a gift to my friend who lives in Canada so can I make a payment from Rupay card?
Hi Natasha,
as per my knowledge,
You cannot make the payment from rupay card on international websites.
I am a non-resident Indian, can I give a gift by remittance to my father’s brother’s son ( my first cousin )?
I have to order some art supplies from the USA but can not order it straight from the USA to India because of high customs and taxes. If I order it to a friend’s address in the USA and he ships it to me through a courier service, will there be any cost involved in that process except the shipping fees of the courier service?
I am an NRI selling property to another NRI, receiving money out of India.
Money transferred to mother account in India, she opened FD. How much tax she has to pay on the interest earned?
Can NRI can gift to a relative NRI from his NRO account
Hi,
Yes, you can.
Is it under LiberaLised scheme, and no permission of RBI is required and certificate from CA required; for remittance from NRO account to NRI close relative.
Need to know can I send money from my NRI account in India to a friend account who is resident citizen of India and do the friend have to file for tax on that amount?
Hi Fatema,
Yes, he needs to file the return. If the amount is more than 50k, he has to pay tax.
I want to gift Rs. 3,00,000 from my NRE or NRO account to my sister. Is it taxable for my sister? (From the article on your website, it looks it is not). Do I or she need to create a ‘Gift deed’?
Hi Venu,
Ya, it is not taxable but in my opinion, it is advisable to create a deed for a safer side but it is not compulsory.
I want send money to my Grand son from India To Canada for study abroad
I HAVE RECEIVED GIFT FROM MY NRI DAUGHTER. WHILE FILLING INCOME TAX FORM 2 IN WHICH HEAD SHOULE I SHOW THIS INCOMETHIS INCOME
Hi,
Consult with your CA.
CAN SECOND HOLDER IN NRO ACCOUNT MAKE FIXED DEPOSIT IN FIRST ACCOUNT HOLDER’S NAME
Hi,
Yes, it is possible.
Money send to brother in india as gift will be taxable to him ?
Hi Arun,
It is not taxable.
How do i make a gift deed?
Hi Smita
For this, you have to consult with the lawyer.
In my opinion, steps involved in the drafting of Gift Deed –
1. Date and Place where the deed is to be executed.
2. Information about Donor and Donee like Name, Residential Address, Relationship among them, Date of Birth, etc.
3. Details about the property.
4. Two Witnesses.
5. Signatures of Donor and Donee along with the witnesses.
If an NRI get a gift of Cash of 10 lakhs from father in-laws or wife ,will it attracts tax?
Hi Kanij,
As per my knowledge, a gift from father in law will attract tax but not from Spouse.
i am an NRI and want to give car to my sister marriage, so how can i get benefit from tax?
Hi Imran,
Gift on marriage will be taxfree.
My NRI grandmother is gifting me a house in india… Do i need to pay tax on it? if yes then how much.
One of my distant relative wants to send an old item for which the declared cost for consignment is USD 500. Will there be an income tax implication. What documents I should have to prove it’s cost and it is an old item. Further what constitutes an old item?
I am resident India and my wife NRI . Can she purchase a flat in India on my name by paying the builder through her NRE account. What would be the tax implication?
I am a green card holder in the USA and I wonder how much money I can send to my parents in India in a year, which will be tax free as well as non-reportable to IRS.
What is the tax implication if a foreign passport holder who resides overseas with an OCI is to get a payment for consultancy services in India and decides to have the client transfer the full fees of 8 lacs to his Indian passport holder senior citizen mother.
Does the client have to deduct TDS before transferring the money to the mother of the consultant ? And If so how much ?
how much tax is applicable moveble gift from NRI to Indian?
I am receiving gifts from an non relatives what are the things I should be knowing regarding the parcel?
I have got a laptop as gift from USA..do I have to pay anything?
Hi Dolan,
As per my knowledge, you won’t have to pay any taxes on that.
NRI son wants to gift money to resident parent. What is the amount which is exempted from tax?
One of my foreigner friend want to deposit his money to my a/c. Is it against law?
Hi Tarun,
As per my knowledge NO it is not
My son is an NRI, he wants to give me Rs.20 lacs for purchasing a house through his NRO account. Will this be taxable?
My father is in USA they sent me money every month amount is aprox 1 lakh its any problems with tax in india?
What kind of tax is applicable to receive money from USA to India if more than 10 Million?
If i send INR 10lac from india to my son’s account in france bank ,whether he has to pay any tax in france?
Gift tax payable by received for money received from non relative nri?
What is the customs limit on gifts?
Is there any difference if donor is a person of Indian origin and a citizen of USA? Whether any permission of RBI required For gift of shares of a Indian company to a resident relative?
Hi, can you tell what is the difference between money sent to NRI daughter or son by India Resident father through banking channel under the category of “maintenance” versus “gift”. Does these two options mean same?
Is there any restriction in the use of that capital by the receiver, or, once transferred, the NRI son or daughter is free to use it for any legally permitted purpose abroad.
Say if money transferred as “maintenance” is used in some investment, like buying a house or investing in stocks or bonds abroad, is there any rule against it? It is to be noted here that once the money is transferred to NRI account abroad, there is no control of resident Indian father, wheather under the option of “maintenance” or under the option of “gift” and therefore, common sense says, that issue is irrelevant from taxation point of view for any party. Please clarify.
My husband is an NRI. Can i give him cash as gift and can he deposit the amountt in his indian nri account?
I received I phone and laptop worth 20000 USD. I am in India. The person who gave me gift is not related to me. What are tax implications?
What is the applicability of Income Tax and Section 56(2)(x) on cash gifts exceeding Rs. 50,000 made by one Non resident to another Non Resident during the occassion of one’s housewarming ceremony in India?
if Indian resident mom sold her home, and giving gift to nri daughter . what is the tax rule?
My sister spouse has given me gift of Rs 12 lac and deposited to my NRO account can i bring it UK account without any tax implication?
can NRI who had PPF in her name India, after maturity period of 15 years can she gift it her mother. Mother is not a earning memeber. if she invest in her name, can she file income tax return in her name?
I and my wife have a residential property in Mumbai which is on both our names however was paid fully by me from my NRI account . I would like to now transfer the house solely to my wife’s name . She is a resident Indian , what taxes would I pay?
My land is in my real elder brother’s name. How can i get it transferred in my name without paying the stamp duty. Can he gift me the property.
My father in law sold his property here and paid capital gains, he would like to send remittance to his Eldest daughter in USA, the amount is Rs. 1.5 Cr. How much he can transfer in year from his savings account.
I am importer of wet dates, i import from Iran and oman. This year my supplier had send goods(wet dates) worth 13 lacs to be distributed in india to poor sector for Ramzan Fasting. How that can be accounted?
I am an NRI – can my brother give me cash as gift and save tax?
Hi Justin,
He can give you cash but he won’t save tax on it.
I have 10percent equity in US corporation. And moved to India in 2012. I want to transfer that equity to an Indian pvt Ltd company where I hold 90 percent equity. Basically transfer/gift/restructure whatever one calls. Without any major expenses.
If a USA person gift me a house in USA and I am not resident of USA then I have to pay tax?
What is the limit to transfer money from dubai to india?
If an indian senior citizen want to buy a property in india his daughter will send the amount 30 lacks from USA is he pay tax to that?
I need to send a gift from canada to India so how much tax should i pay in canada i mean till what extend the tax goes high?
My daughter in uk wants to gift me money for buying a house in Bangalore. What is the limit since to wants to fund full amt approx 50 lacs. Pl suggest. Tks
i want to gift Rs 50 Lac to my sister in USA.Whether it will be taxable to her in USA
HI Sethi,
As per my knowledge it will not be taxable to her
If 33000 usd received through bank transfer as gift from nri whether tax levid in india
Hi Geetanjali,
Yes
Please advise the documents required by a Bank (Authorized dealer) remitting foreign exchange, for gift by a NRI from his NRO account to his major NRI son.
If one has not yet declared them self as NRI in Tax filling, can he or she still buy agricultural land or get it as Gift Deed ?
Can an NRI Who is still an Indian – Recieve Agricultural Land as Gift Deed ?
would like to send a used imac from 2014 totally written off in germany to my cousin. will he end up paying duty ? would be a declared value to avoid this?
I want to give gift to my sister, is transfer from my NRE account is okay or the money should be remitted directly to her account from abroad?
If UAE country person sending courier at there that person pay the courier charges but in india receiver of that courier any charges or not?
How much money as a NRI ..I can transfer to my sis who is indian resident ..tax free .It should in the form of gift or loan.
Is there a limit set by the Indian authorities for individuals to receive foreign support?
Money gifted to resident indian (wife) from NRI (husband) is taxable in india?
what is the cap of cash an nri transfer to her wife savings account in India?
Hi Mohsein,
The gift Cash Limit is Rs 50000
Dear Hemantji
My Uncle is NRI residing in Spain. He wants to gift $300,000 to $325,000 to me (Major). Can you please let me know if any Gift Tax is applicable for me or him? Also is there any other formalities in terms of Gift Deed / RBI declarations etc which is required?
Hey Ash,
Yes, the tax will apply on the amount exceed the limit.
I am a oci card holder and citizen of usa. I have a joint ownership property with my mother . I brought it using my earned income and my parents live in it . Now I want the property to b in my name . My mom is ready to give me a gift deed . What are the tax implications and am I going in the right direction?
Hey Anu,
A gift deed will help you from future chaos and the tax implications are subject to the value of the property.
What is the process to receive a gift from abroad?
Hey Ajay,
It varies from the type of gift you receive.
I’m an nri. How much cash my mom can give me as a gift that’s exempted from tax?
Hey Sudha,
The limit is Rs 50000
What is the max . amount my friend can transfer as gift from UAE to my account?
Hey Sanjay ,
The limit is Rs 50000
If daughter gifts funds from her NRE account to parents resident account, is there any tax?
Hey Vishnu,
It depends upon the amount.
Can an Indian Citizen receive foreign money from foreign friends without tax? Will the personal be accountable to government?
Hey Anil,
It depends on what amount you are supposed to receive.
What i have to do if receive gift from Finland?
Hey Rupali,
If it qualified the parameters of your country’s law you don’t have to do anything.
My friend in Germany wants to send me some gifts and she asks me that you pay 25000 rupees to receive this gifts in india.
Hey Vijaykumar,
It depends upon the value of gifts.
Also, I want to know whether Rs 80000 is taxable. And is there any issue, if my friend has sent me money.
Hi Umesh,
As per my knowledge, it is taxable.
My brothers son in law is NRI. Can I gift 1 crore to him. Is it taxable, if how so.
Hi Ram,
Yes it is taxable
I am NRI, how much i can gift to my wife’s brother?
Hey Shamsher,
The taxfree limit is Rs 50000.
I want to send a gift from uk to india in which one engagement ring and one apple mobile. Then will my friend living in india need to pay any money for that?
Hi,Nirav, Your Friend will have to pay for customs.
Thanks, I would like to know who would have to pay the transportation the receiver or the sender ?
Hey Francisco,
It’s very subjective, hence vary from country to country.
I was born and brought up in India, married American citizen I took American citizen my dad gave me inheritance funds in my bank account. how can I transfer my funds from India to USA bank account?
Hey Jayasri,
Approach your bank in India and do the needful accordingly.
My brother in law is in Australia and he wants to send me 2.5 lakhs by tranfer in to my account can i take this if yes is this minut taxablenor any penlty on this?
Hey Arvind,
As per my knowledge, you will have to pay tax as the amount is exceeding the limit of Rs 50000.
Dear Sir, How much amount i can gift to my USA NRI Daughter in india bank account and is it taxable in USA.
Hey Suryanarayan,
As per my knowledge you can gift her Rs 50,000 both will exempt from tax.
NRI Daughter received gift amount from indian father in indian bank is required to pay Tax in USA.
Hey Suryanarayan,
Depends upon the amount you received.
My friend sent me some gift from UK to India. Rolex watch, shoe, shirt, a belt and slipper pair. If I have to pay custom duty
Hey Avinash,
It depends upon the value of the gift .
I have Rs 15 lakhs as gift to my USA NRI daughter in indian bank account in india it self is it taxable in USA.
My friends give me clothes & watch, shoes from the Netherlands his side he pays charge now in India what Charge I have to pay?
Hey Janakkumar,
I think you don’t have to pay anything for that.
How can an Indian resident transfer stocks as a gift to NRI??
Hey Vivek,
I think you should approach your Stock Broker he will guide you briefly.
what are the implications if my NRI son gifts me ( resident Indian) money through the bank, and then I transfer the same amount of money to my son abroad.
Hey Kishore,
If the amount exceed Rs 50000 you will have to pay tax on the exceeding amount.
How much USD can a cousin send to his brother in India via bank transfer?
Hey Anik,
The taxfree limit is Rs 50000 .
want to know if relocating a brand new car with me to India as NRI is exempt from Customs?
Hey Ravi,
As per my knowledge, it will not be exempt from customs.
Tax on foreign currency received as commission for sale in third country
Hey Nitin,
If you are an Indian the tax will be implied on your Total income(including income from other sources)as per the tax slab.
how much money can my parents send to me from their Indian account to my USA account without incurring any taxes in India or in the USA
Hey Brijesh,
The limit is Rs 50000
Actually one of my friends lives in Dubai now. I would like to gift him a present which worth 2400 how might be the payment
Hey,
It’s good you can gift him.
I want to remit approximately 10000 Canadian dollars equivalent to my son in Canada. My question is: can I do this without any tax liability or any other restriction. It is purely a gift from father to son. Kindly advise. Thanks
Hey,
As per my knowledge you can’t do so without paying taxes as the amount is exceeding the limit.
Hi, I am an NRI. Can I invest in shares in my wife’s name or account? she has the trading/Demat account. can I transfer money on her account and invest? Thanks
Hey Prakash Alves,
Yes, you can do so.
One of the foreigners actually he is from Ireland but staying in Canada he told me that I will send the cash in parcel to India because it is not possible to transfer money online he said is it true?
Hey Ravikiran,
No.
Hello, great blog here! I am an NRI holding NRI and NRO bank accounts in India. My father who is a resident Indian sold one of his properties and wants to gift the proceeds to me. I prefer the money is in NRE, rather than my NRO account. Can this money be received in my NRE bank account? If he transfers the money to me via a cheque/transfer, would that money be repatriable?
Hey Meeta J,
As per my knowledge, you can but it would be advisable to contact your bank for further details.
Will check that out thanks.
my elder daughter residing in USA for job in a it company, send $ 15200 to me younger daughter’s account STATE BANK OF INDIA through bank transfer will it taxable or not
Hey Sushil,
The maximum limit for such a gift is $250,000 in a financial year.
The amount received from NRI relative to a resident Indian is taxable?
Hey Brahma,
Upto the limit of Rs 50000 it is taxfree.
I am working in Dubai for the last 10 months. I have the residence visa of UAE..now I want to transfer money 50 lakh to my father’s saving account..what are the tax clauses and pros & cons of this transaction?
The maximum amount that can be gifted to NRI Son in a financial year without any tax implication?
Hi TG,
The maximum amount is $250000 in a financial year.
My fiance is staying in turkey in Istanbul. Wants to send 3000 euros to my account. How should he process?
Hey Cathrine,
By Cheque, online banking etc.
Tax implications for gift by NRI?
Hey Amitabh,
It differs according to the country to country
What about gifts from a US citizen to a returning NRI?
If a father sells his property in India and sends the part of the proceeds to Green card holder in USA, how is it treated in US?
being an NRI can I gift to non-relative in India some money. if yes, what are the limit and tax rules?
How much money can I transfer tax-free to my relatives in India from UK?
Hey Abhishek,
Taxfree amount is Rs 50000
Receiving gift money package from German, I need to pay for tax?
Hi Vinodhinii,
If the gift is more then Rs 50000 then the tax is applied according to your income tax slab.
I AM AN INDIAN PASSPORT HOLDER – DUBAI RESIDENT, HOLDING NRI STATUS, MY NEPHEW IS A BELGIAN NATIONAL – CAN I RECEIVE GIFT IN ANY FORM FROM HIM?
Hi Vivek,
Yes you can receive but it will be taxable
my friend in Australia wants to send me a courier of skincare products as a gift to India do I have to pay customs on receiving them?
Hey Divya,
As per my knowledge you have to pay.
hi if I gift a car to my parents in India from overseas do they or I need to pay thi if i gift a car to my parents in India from overseas do they or I need to pay tax or duty on ca. even it is a gift to my parents from my side as I live in overseasax or duty on car even it is a gift to my parents from my side as I live in overseas
how much many can a working Indian mother send to a daughter in UK? without tax
Hi
I live in UK and want to gift my mum £40,000. The money would be paid into her account in Delhi. She is an Indian and lives in India. Does this transaction attract any tax? What is the limit such transfer from NRI (OCR holder) to an Indian resident (relative – mum)?
I want to transfer 30lakh to my mother’s account from my NRE account as a maintenance amount….will it be taxable to my mother?
Can I take the gift as a cheque from my brother’s NRO account in India?
I am an NRI. I want to gift to my daughter in Australia from my NRO account in India. Will it attract tax?
Hey Vengopal,
You cannot transfer money from your NRO account.
How much I can give cash gift deed to my brother he is an NRI in the USA? and what taxes will be imposed or liable to him? Is there any cap on the amount per year?
Hey Abhishek,
In the USA you can give cash gift up to $15000 in a year.
Can an NRI sister gift her house in India to her NRI Brother?
Hey Bhanu,
Yes.
Whether Sister of NRI is covered in the definition of NRI?
Hi Shanky,
Sister of NRI is considered as a Relative.
Hi,
Can I transfer amount of Rs 20,000 from my NRE account to my parent’s saving account in INDIA every month. Will it attract Tax or any penalty?
Hi Dp,
Yes ,you can transfer the money without giving any penalty
Is amount received by an NRI from Indian parent is taxable in the USA?
Hey Appalanarasamma,
Amount Upto $15000, is exempt for tax.
What if I received a gift of 30000 pounds from a friend from Uk. I am an Indian resident how much tax I have to pay or not pay.
Hey Adarsh,
Subject to the limit of Rs 50000 is taxfree, upto that limit amount is taxable.
if i send money to my son who has been laid off in UK due to covid19, my qns are-
1. how much money can i send him per month?
2. can i send rs. 1.5 lacs pm from my monthly savings as i still work?
3. will it be taxable to him in UK while he is not earning as of today?
I am NRI and if I send my parents 10 lac rs a year as a gift . What is the tax implication?
I have an OCI status. Do I have to pay any tax following a gift deed from the sale of property that my brother owns in India?
I am an Indian Citizen and have a property in India. I reside in India and I would like to gift it to my daughter who is a US citizen. What are her tax implications if this property is left to her as a gift.
Hey Champa,
As per my knowledge you both are exempt for tax.
Good morning sir/ma’am, I am from India, and my friend it sending a gift box with code to me from the UK. I am not in a situation of receiving that gift box. Will that courier then return to my friend if I don’t receive it?
Hi Vaishnavi,
Your should contact to your courier service provider for the same.
If someone sends a gift from Leicester do you need to pay customs tax?
Hi Nilanjana,
As per my knowledge gifts under £135, are exempt to pay customs tax.
Currently, I am living in Canada. I am sending 80,000-100,000INR every month to my dad’s account. Who is living in India, Whatever money I am sending to him from my side is after tax. So, my question to you is how much money I can send to his account. So, they do not need to pay any tax to the Indian government?
I want to know that if my friend sends me euro to my country how I will convert euro into rupees?
Hey Sonia,
You can convert them at bank.
1. Can my Indian resident sister send money to her nephew ( my son) resident in Uk tax-free under section 52(2) of IT law 2) If so is there any limit per year tax-free? thanks
Hey Ved,
Limit is 50,000.
Thanks but I am afraid your reply seems contrary to the provision of Income tax act 1961 which states that there is no such limit on Gift received by an individual from brother or sister of either of the parents of the individual and their spouse i.e. ”uncle or aunty” will be considered as gift from relative. Resultantly, gift from uncle or aunt will not not be taxable under in the hands of the recipient as ”income from other sources. I am aware reverse is not true.
I would appreciate if you could recheck & advice.
Thanks a lot
My brother was holding NRI status during the financial year of April2019-March2020. Now he has lost his job and settled in India. He wants to transfer his fund from his foreign account to his father’s account. is it taxable on India?
Hey Deepika,
As per my knowledge no tax is applicable on the money being transferred from abroad to India as you’d have already paid tax on the income you are earning in the country abroad.
Cana NRI give a gift to his father in law?
Hi Vishal,
Yes you can.
Can I send money to my parents in India without attracting any taxes on me or my parents? What are the max limits?
Hey Himanshu,
Yes you can and the limit is Rs. 50000
I am an NRI. Can my father gift me Rs. 1 crore and remit this amount at once.
Hey Pranav,
No, Because gift limit is Rs 50000,above that amount will be taxable.
How much should I pay for the income tax for the amount of 35 lakhs?
Hey Devi,
As per my knowledge 30% of amount exceeding Rs 10 lakhs.
As an NRI, I received a Bank deposit claim received Rs 70 lakh FD in the name of my Father. What is the tax that I have to pay for repatriate the funds in my NRO a/c?
Hi, I wanted to know can a NRI gift his interest in llp to a resident(relative) and if yes, is it exempt for both giver/receiver?
Hey Shagun,
Upto the limit of 50,000, it will be exempt for both.
My sisters live in Australia and I in India she is going to send me a MacBook air am I liable for import tax?
Hey Ram,
As per my knowledge yes you are liable to pay import tax as gift is worth more than 50000.
what is the upper (maximum) limit for gift by an NRI to his relative (father and mother) in a year?
Hey Naresh,
The limit is Rs.50000.
Hi, Can a Father transfer money from his account to a 19-year-old Child’s account? what is the max amount?
Hey Venkata,
As a gift you can transfer Rs 50000. Exceeding this limit amount is subject to penalty.
When will come the gift India from the UK?
Hey Rajendra,
Depends upon the type of gift and source of transferring the gift.
I received 2.95 lakhs for equipment from a foreigner to my Indian account so am I liable to pay any taxes on it?
Hey Shagufta,
Yes you are liable for tax.
Suppose someone other than my relatives from the UK sends me 10 lakhs to my Indian account what will I write when filing for an income tax return?
Hi Vp,
Yes, Because amount is subject to taxable.
I am an NRI. Currently in UK. Can I transfer money from my NRE account to my dad’s resident saving account in India? If yes then Maximum how much and what is the tax impact in both of us?
Hey DP,
Yes you can transfer money from your NRE account to your Dad’s account and as a gift you can transfer 50,000 rs which is taxfree.
I have doubts about taxation regarding nre accounts.
the interest received on NRE account is Tax Free.
I want to transfer 30 lakh to my mother’s savings account in SBI. can I make an online transaction without worrying about tax?
Hey Shiksha,
As per my knowledge you cannot as transferring more than 2.5 lakh online might invite income tax scrutiny.
my son has lost the job in Australia for 6 months .he is an Australian citizen . as a parent can I send money for him for his maintenance as gift?
Hey Raghottam,
Yes you can within the limit of 50,000 rs.
is income earned by NRI in India taxable in the USA?
Hey Neeloy,
If you are a resident in the USA and are working in the USA, you will pay tax on your Indian salary in the USA.
I am a US resident- green card holder and wanted to know how much money I can receive from my parents in India as a gift without paying taxes?
Hey Priya,
You can receive 50,000 without paying taxes.
Hi, I am an NRI, how much Indian money can I gift my father. And how much money he can give to me as a gift.
Hey Kamalapathi,
The taxfree limit is 50,000
I am NRI .How much max i can Gift cash to my sister?
Hey,
The limit is 50,000.
Hi, I would like to ask you about funds transfer from India. My mother is Indian citizen and she wants to transfer US dollars from India to my account in canada, I am Canadian citizen. My question is how much maximum US dollars or Canadian dollars she can transfer to my account in Canada in one year or there is no limit. Thank you
The custom clearance for gifts needs to be paid some amount?
Hey Pooja,
Import of gifts items, which is freely importable need no custom clearance permit.However their are certain gifts items that are not freely importable.
gift tax for sending India for h1b salaries?
Can my cousin in Canada ship me a skincare set worth 15000 as a gift without any of us incurring taxes n customs?
May I know what is the limit of money gift that NRI can send to a relative in India?
Hey Digvijai,
The limit is 50,000.
Is it necessary for an NRI to be physically present in India to gift an immovable property located in India to his resident sister? Is there any way that is done in absentia?
Hey,
As per my knowledge, there is no other way in absentia, you have to be present in India for the legal formalities.
I live in India and my son lives in the USA. I want to gift him 250000 USD every year. Is that taxable to me in India?
Hey Pankaj,
For you, it is taxfree and kindly backup your gift with the proper gift deed.
Can an NRI gift Property in India to her Mother in Law?
Hey Ravi,
Yes you can gift property in India to her Mother in law
I bought shares worth 1lakh on the name of my father, mother, and brother. I am an NRI. And acquired British citizen.
I am an Indian living in India, how much money can I receive from my NRI American relative?
Hey Dakshinamurthy,
If you are receiving the cash as a gift from the relative the limit is USD 250,000.
can 25 lakhs be given to a nre /nro blood relative?
Hi Gonsalves,
Yes you can
If Immovable property is gifted by NRI to resident in India.Property is in India. If gifted property sold by resident than can resident claim the exemption u/s 54 ?
Please reply asap
Hey Aditi
Yes you can claim the exemption.
thanks. And gifted property is not treated as transfer in hand of NRI
My question is whether I can get money /cash in my savings account in India as a gift from my NRI daughter for purchase immovable property in India. 2. Is it taxable in India?
Hey Sundarakrishnan,
Gift received from daughter is exempted.
If transfer money to my father from overseas via a bank transfer and he further invest in an FD in his name, is it Taxable?
Hey Aman,
Your father wont have to pay tax for it and you must be already paying income tax so you don’t have to pay extra tax.
I am getting a house from my parents as a gift. what will be the tax implication? I’m a UK citizen and the house is in India.
Hey Mandeep,
House receives from parents as a gift is taxfree.
What is checking the change payment of gifts?
Is an NRI required to be present in INDIA to prepare a Gift deed favoring his brother for the immovable property?
Hi Suryanarayana,
As per my knowledge you are not required to come in India or for more contact your property adviser.
I have a business in Australia and I am an NRI. How much AUD I can transfer to my father in an FY. Also, does that attract tax to him or will he become under GST for that?
I am an NRI living in the USA, my brother in India wants to gift me 2 acres of agricultural land worth about 25 lakhs. Can he do that? If yes, what taxes would either of us have to pay?
Hey.
As the property is agriculture land, it can be gifted only to A person resident in India who is A citizen of India.
A foreign National of non-Indian origin requires the prior approval of the RBI.
I am an NRI and my mother is also an NRI she wants to gift me around 40 lakh rs from her immovable property sale proceeds so which account shall I open nre or nro?
I am an NRI, a USA citizen. My brother in India wants to gift me two acres of land (valued at around 25 lakhs) would either of us have to pay taxes on that amount?
The second option is that he sells the land and gifts me the proceeds from this sale by check in the amount of 25 lakh rupees. Which option is favorable for tax purposes..
Hey Raji
As per my knowledge the first option is better because the gift would be exempted as it would be given by your brother.
And in the second option the cash is exempted till 50,000 after that you both have to pay tax.
Hello Sir,
Has the rules on gifts from resident Indian to NRI changed from 2019? What are the changes?
Sandeep
Hey Sandeep
According to changes made by budget 2019, only money paid by a resident individual to a person outside India without any consideration will be Considererd as taxable In the hands of receiver.
Hello Sir,
I have queries as below. I would greatly appreciate if you can answer it.
– I would like to gift around 25 lacs to my father in law as a gift. Is it exempt from tax? What documentation I need to do? I know that simple gift deed is required. Are signatures required on the gift deed? Can it be done as soft copy while both parties are in different countries?
– Are there any restrictions on where this gift amount be invested by my father in law? I understand that income arising out of this investment is taxable to my father in law.
– What documentation is required when this amount / gift is returned back to me or my spouse after few years?
Thank you.
Sandeep
Gift deed should registered with registrar & how value of stamp paper?
Rajesh Parmar
Some money was transferred into my NRO account by my father after the sale of a property. Will these funds are taxable in the USA or is this considered a gift and so will not be taxable.
My son is an NRI. He has purchased several plots in Hyderabad. He wants to gift them to the mother to avoid complications later. can he do without any limit free of tax.what will be registration charges? If the mother wants to sell at a later stage what about tax liability.
I was not with Indian passport in 2015 and was visited India that time my mother gave me gift of immovable property, and in that property document of gift they write my Indian address not foreign address, now I want to sell that property and I have oci and foreign passport, is it right if they write my Indian address in gift deed document?
Can foreigners give money to Indians?
Hello,
My grandfather put some money in my name in his will. The amount is more than $15K usd. I am on H1B. So I have 2 questions sir:
1. How much money I can get in my US account?
2. Are any tax implications applicable on me in India or USA? (If yes, what are those)
Thanks in advance
Kaur
1. If I take a $300K gift from my brother in India NRE account is it taxable to me in the USA?
2. If I decide to bring this gifted amount $300K in the US bank account in 2025, will it be taxable at that time?
what is the maximum limit for a monetary gift to NRI from Indian resident?
Hi Meghana,
As Per My Knowledge, According to my FEMA act, you can transfer up to USD 250000 in a financial year.
NRI TAKEN GIFT FROM INDIA IS TAXABLE OR NOT?
Hi Nakka,
As per my knowledge, If the value of the gift exceeds INR 50000 from a non-relative resident then it will be taxable in the hands of the receiver.
if my father who is a resident of India wants to gift me, can I receive that gift in NRO or NRE account?
Hi Romish,
Yes, you can receive the gift in your NRO account.
If I want to gift immovable property worth 1.5 crores to my sister in India. A am NRI from UK. My sister is a resident Indian and married. What are the tax implications?
I am in India, I want to gift money to my sibling(sister) in Canada. What’s the gift deed format, limit and whether it should be registered or on simple stamp paper
Me and my elder brother have inherited an immovable property in the form of Residential House equally. My brother wants to gift his half share in the property to me as he has become an NRI with permanent sttlement in Australia . His name and passport has also been changed now . He is unable to come to india for this purpose because of health reasons . How I can get the Gift deed executed in Australia and submit in India for the purposes of registration ?
I understand that such gifts are exempt under both countries Tax Laws since it is a Gift to a relative – Sibling / Brother
I can travel to Australia to get it executed
i donr need any permission under FEMA since the vaue of property is below $ 1 m ( even as per municipal valuation )
Your guidance in the matter shall help me in doing the needful
Thanks and Regards
CA Vinay Kumar
Hi Vinay,
You are a CA so I can’t even say talk to a CA. My understanding is as this property is in India, your brother should be in India to transfer this asset to you – you should talk to a lawyer in your city development office where property registrations happen.
WHETHER AMOUNT REMITTED BY A RESIDENT INDIAN TO NRI SON ABROAD IS TAXABLE.
Hi Vijay,
No, it is not taxable as per the Indian Gift Taxation Rule.
My brother is Australian . can I take Australian dollars from him in India and change it and put it in my account.
I live in France. I send money every month to my parents in India. I claim a tax deduction for this amount in France as per French tax rules. Is this money taxable to my parents in India?
Hi Sivagaminathan,
As per My Knowledge, Money sent to the relative residents is not taxable in India.
WHETHER AMOUNT REMITTED BY A RESIDENT INDIAN TO NRI SON ABRAOD IS TAXABLE
I live in France. I send money every month to my parents in India. I claim tax deduction for this amount in France as per French tax rules. Is this money taxable to my parents in India ?
How can I know is my friend sent the parcel to me or not from the UK
Dear Madam/Sir My daughter is NRI and she transfers 15000$ to her mother for maintenance. Now her brother wants 10000 $ in the same financial year. whether she can do so or what type of tax compliance or information to be given to different authorities. This is a total 25000$ from 1.4.2019 to 31.1.2020.
Indian resident father wants to gift bank transfer payment of 80lac to a UK NRI daughter, what are the tax implications and required documents
Hi Nusrath,
As per my knowledge, there is no taxation on sending gifts to NRI relatives but it should be backed up with a gift deed.
I want to send 10000 rupees to my friend in the Philippines is it objectionable
Hi Ramesh,
no, it is not objectionable. You can send the money to your Friend.
Can NRI send money to his Father’s account to purchase the Flat in India which later NRI will transfer on his name? What is the Tax implications?
my friend from the UK send a gift to India to me through courier, now courier people are asking to pay some amount, I don’t have any tracking details.
Is the gift deed for the house to be registered or a mere deed would be sufficient.
amt is applicable on gift received from NRI to resident who is relative. Amount is 30 lac
Hi Atul,
As per my knowledge, there is no taxation applicable to gifts received from relatives.
I am NRI my family consists of 4. 2 are children.How much I can gift to each one per financial year.
Hi Vinodh,
As per my knowledge, this would depend on your residence country like in the USA you can gift up to $15000 in a financial year.
i am nri and my mother in law want to gift a property on her name to my wife and my wife want to gift it to me ,so what forms to be filled to create a sales deed
Hi i am an NRI. I am nominee in my fathers saving account in india. He had expired in nov 2019.Being nominee in his saving account the bank has transferred the cash in my NRO account. i need to know regarding tax liability against my deceased father for the cash amount and against me if any
My son who is now an OCI card holder wants to gift a residential plot in India costing about 75 Lakhs. Will there be any Tax & registration charge on it
My brother is residing in US. I wish to know the current limits of gift as bankers cheque in my indian bank account.
Thanks
Is there any clearance charges for receiving gift from my friend who is settled abroad
Hi Arun K R
As per my knowledge, if the gift amount exceeds INR 5000 then you will have to pay the clearance charges.
I have my son who is NRI in USA working in company. How much amount in rupees maximum can i gift him to buy a house or for his personal need ? Please explain .
Hi Arun,
The maximum amount you can gift is about INR 1.75cr per financial year.
Hi,
I am a NRI residing in UK, My wife is receiving 55 lakhs from her mother as a gift with deed selling h a property.Whats the tax implication in India and tax implication in UK if I want to move those funds from NRO account to GBP. She is already working and pays 40% tax on her income.
Hi Jeg,
As far as Indian taxation is concerned, You can remit up to USD 1 million per financial year from the NRO account, you would need to submit two documents: Form 15CA and 15CB.
A non relative foreigner from UK sends gift of some movable articles and some amount of pounds in cash through a courier to an Indian friend. When the package arrives the Indian Airport the customs department find the currency in the package and demands to pay duty for the articles and for the currency.
If the gift is received by the indian what is the rate of gift tax.No gift documents are received from the foreigner. Can the Indian reject the gift , and the same can be taken back by the foreigner. Give me a clarification and suggestion
Mother is resident in India and she wants to gift money lying in here bank account in India to her son In US . How much money can she send per year and what are compliances to be done by her in India
Hi Naresh,
The maximum limit for such a gift is USD 250000 in one financial year.
As a recent green card holder but as per Indian income tax we are resident for Indian income tax than should we require to open an NRO account or we should continue with our simple savings account in India?
Hi Lana,
As per FEMA regulation, when a resident’s status changes to NRI the resident savings account have to be converted to an NRO account.
Can an NRI son gift his flat in India to his resident mother in India
Hi Paul,
Yes
Gifting money from India to us to a person who has acquired our citizenship. What is the best way to avoid tax liability for the recipient
When an NRI gifts an Indian resident who is a relative is the Indian recipient taxed? Hello
Hi Ash,
When an NRI gives a gift to a resident Indian who is a relative, both giver and recipient are exempt from tax in india
My mother’s sister wants to send me Usd 3000 from USA to India as gift how is the best way
Hi Ashish,
As per my knowledge, it can be transferred through the bank account but it will be taxed in India.
I want to gift Rs 30 lakhs to my NRI son by cheque in his NRO account. Is there any tax implication?
Hi Chinmoy,
It should be backed up with Gift deed.
Whether amount sent by nri to dad for repayment of Edu loan is taxable in us or India?
Hi Sridhar,
As per my knowledge, it will not be taxable in India.
I have to send my brother rs.50000 via bank transfer, who is having an NRO account in india. So will i needbto pay tax on this amount
Hi Nathalena,
No, you don’t need to pay any tax as Gift to NRI relative is exempted from tax in India.
Can my blood brother living in Dubai send me gift of 5 Cr
GIFT FROM RESIDENT INDIAN TO Non resident if he is relative what is the procedure if value is 10lakhs.
Hello Sir,
Thank you so much for this blog.
But, could you please suggest the changes/ amendments made to the gift tax applicable when resident of India gifts > Rs. 50000 to his relative as per the new Income tax rules 2019?
My daughter has acquired US citizen ship. Previously she was Indian resident. She has purchased a plot during Indian residence stage. Now she want to gift the plot tome (father). Kindly guide transfer process and tax structure.
Hi Shirdish,
It’s better to consult a CA.
I was informed that when a Resident Indian gifts to a Relative in USA who is NRI or Person of Indian Origin, it does not attract gift tax laws of USA. Only when the amount received is more than 100000 US $, the same is to be reported to US Tax authorities. Pl confirm
I am nri working in Singapore. Can I send money from my nro account to my Father-in-laws Sb account a sum of 10 lakhs Rupees? Who has to pay tax?
Hi Ravi,
yes, the receiver has to pay tax.
i have recieved a house in India as a gift from my NRI relative 3 years back.Now I want to sell the same what will be the tax implications and what will be the purchase price?
Hi Omprakash,
In the Case of Gift, the cost of acquisition by the previous owner of a capital asset shall be the cost of acquisition of such asset to the person selling such capital asset and it will be taxed as per Capital gain taxation.
I am a NRI. Is there any limit for me to give gift my own sister by cheque
Hi, Sainudheen
There is no limit to sent gift to your own sister
We have our relatives in India want I phone and iPad latest we are three people to going India how we can take this .We have pay duty?
Can a NRI having land in India gift to his NRI brother and is there any tax involved
Hi Ashish,
Gift to a relative NRI is exempt from tax in India.
My parents would like to sell their property in India and relocate to Switzerland where I live now. They can either transfer the proceeds to me here or relocate first here, open their account here and transfer all the proceeds to their own account in Switzerland.
What is a better option and ehy(
Hi SD,
I will personally suggest second option to keep things simple in the long term.
what is the provision for following scenario resident father gift to NRI daughter UK. what is rule of UK about gift received from India
Hi Amit,
As per my knowledge, upto GBP 3000 is allowed for tax exemption.
My Indian freind working abroad on 4 months contact wants to send me 10000USD, what is the tax liabilities
Hi Anoop,
It would be taxable in your hands if he sends you in the way of gift.
GIFT FROM RESIDENT MAMA TO NRI BHANJA IS TAXABLE AS PER NEW AMENDMENT IN BUDGET?
Hi, Sanjay
It won’t be taxable in the hands of him.
Can I receive a gift in form of cash from a nri which he will be sending from his bank account?
Hi Babita,
Yes you can receive but will be taxed to you, if it crosses above Rs 50,000
My only daughter is an nri in Canada She wants to gift her flat in Mumbai as i have no property and a widow. Can she do it from Canada
If someone from uk sends gifts to someone in india through courier andin india the authority find that in a parcel uk person has sent gold diamond and uk currency means ….is it illegal to send currency with courier ….
Hi Varun
As per my knowledge, It is kind of illegal work. So my advise is not to do so as this may land you in trouble
I have a joint property with my daughter ( NRI) She wants to gift to me (mother), the property is a flat in India, what is tax implications or steps to follow
Hi Sunita,
there is no tax implications on such transfers.
I would like to transfer funds from my NRE account in India to my daughters’ account in Newzeland. what will be the maximum amount that I can transfer?
Sir i am 77 yrs old and hold some shares of tata steel.i want to know that can i transfer these to my son who has taken US Citizenship.
Hi DR Gupta,
Yes, you can transfer it provided the total value cannot exceed USD 50000
Hi, I want to Transfer 200 Shares of an Indian Company (approx Rs.4.5 lacs as per present share value) to my Daughter, who is an American Citizen, as Gift on her 40th Birthday. She has her OCI Card as well. Please advise how to go about. Thanks
Hi Srinath,
You can ask your daughter to open a Demat account in India & transfer those shares. But my suggestion is you should sell these shares & gift amount to her – she can invest in any Indian ETF in USA.
WHAT ARE CONDITION APPLIED BY INCOME TAX FOR PURCHASING NRI GIFTED LAND
Hi Mr Ayub
Please refer CA
I want to move money from NRO to NRE. The funds were gifted by my parents residing in India. Can I still make the transfer
Hi Mr. Aditya
Transfaring money to NRE from NRO needs forms formality, Please refer your CA.
i have certain investments abroad acquired by me when I was a non resident. is it possible for me to gift these to my daughter who is currently NRI tax free
Hi Npun,
Yes, it is possible, but you need to refer to the tax laws of that particular country too.
i have an nre account in india, i would like to transfer money to my father who is a senior citizen. will that money be taxable for my father as it might show income for him ?
Hi Mr, Sanjeev
Gifts to parents are nontaxable in INDIA.
how much amount Indian father can gift to his US citizen daughter as a gift
Hi
According to LRS, you can transfer $250000 as a gift
I Am an Indian national and my brother is a green card holder.i want to gift my Indian property to him tax-free and transfer amount to USA so that he can use the amount .is it possible
If I send Rs. 99999 to my mother to India in 2 different transactions ( each below Rs 50000 ) then would she need to pay any taxes in India ?
Hi Robbin,
The gift to parents is non-taxable in INDIA.
My father wants to send me $35,000 from India. My main concern is would there be any tax deductions at the end of the year for me?
Hi Mr. Rupinder
It would depend on the tax laws of that particular country.
what is the income tax levied on cash/cheque received from NRI friend?
Hi Mr. Saminath
If the said amount is more than 50 k than it will be treated as income from other sources and taxed accordingly.
My son is resident indian nri in US and on work permit. I am senior citizen and by selling my existing property I will need additional 50 lakhs from my son who has nro account. Should he make payment from his nro account or gift 50 lakhs to me so I can purchase flat with out any issue. Please guide me.
Dear Suman,
Yes, she can.
Hello Sir,
Please guide if an NRI sends money in India for maintainance of his property in India to his brother in law and also some extra amount .. how will this be treated in income tax return of his brother in law .
Thanks in advance
Can my real sister an American citizen send me gift of Rs.4 lakhs Rs.?
Hi Suman
You need to check taxes on transferring money in that particular country, or else it is nontaxable in INDIA
Tax on gift property to NRI by non relative
can NRI gift funds to his real brother indian from his indian earning income that were held in his NRO account
Dear Sandeep,
Yes you can gift it to your brother.
One of my female friend wants me to send apple I phone and apple laptop from united kingdom to India. Did I have to pay tax for it.
Hi Mr. Sachin
As such it won’t be added to your income as it is not the property in the eyes of income tax, only customs duties would be applicable
can NRI (indian citizen residing in USA) gift Rs. 3 crores funds to his real brother who is residing in india, from his indian earning (like rental income) and sale of property receipts that were held in his NRO account
I need to send gift to Netherlands will it be possible
Dear Ambika,
Yes, it is possible.
My spouse’s brother’s wife has sent an item worth ₹27000 to us through courier and it is being held at Indian foreign post office for showing the invoice. What r our options
GIFT FROM A NRI TO HIS UNCLE (FATHER’S BROTHER) IS TAXABLE?
Hi Vikas,
Yes, It is taxable.
GIFT FROM A NRI TO HIS BROTHER’S HUF ACCOUNT IS TAXABLE?
Hi Vikas,
It is exempt from tax.
But I read it somewhere only HUF member can gift
I am NRI, can I gift to my brother’s HUF account?
Hi,
Yes, you can.
If anybody getting currency as a gift from UK suppose 40000 to 50000 pounds cash so what will be the charge or tax in India or is there any problems to get gifts like that please explain it
Hi Dharam,
Cash gifts that exceed INR 200000 can be subject to penalty.
To my question about gifting securities, I should add, the resident is my father, so a direct relative.
Hi Sid,
There is no tax implies on a relative. And your father is considered in a relative category.
If I transfer money from my NRI account to my wife’s normal SB account is there any tax? Is there any limit? Please advise
Is there a limit on transfer from NRII’s NRE account to savings account of his relative?
My friend is in newyork, and he wants to send me all his savings it is 3.8millions, so what is the process
Money received from nri relative is taxable?
Hi Rakesh,
It is exempt from tax.
I have grand daughter citizen of US. She is a minor. Gift given by me are taxable at the hands of parents is taxable in U S
Hi Ranveer,
No, it is exempt from tax.
I want to gift my son who is an American citizen rupee equivalent to USD 30000 is there any tax implication
Hi Mukund,
No, it is exempt from tax.
MY SON BEING AN NRI DOCTOR IN UK, AND GENERATES INCOME IN INDIA BY HIS CAPITAL HERE, WHICH HAS NOT COME FROM UK, .THIS INCOME IS FROM STOCK DIVIDEND AND MUTUAL FUND DIVIDEND AND INTEREST TO RELATIVES COMPANY,AND FILES INCOME TAX HERE AS NRI,IF HE DECLARE THIS INCOME IN HIS TAX RETURN IN UK, DOES HE NEED TO PAY TAX ON THIS INCOME IN UK, WHERE SOME AMOUNT IS NON TAXABLE AND DIVIDEND S ARE TAX FREE.
Up to what amount maximum I can gift to my brother who is a person of Indian origin residing in the united kingdom without paying gift tax
Hi Mythili,
There is no tax implies on a relative.
Can a resident India give a gift of foreign securities to an NRI? This is an unlisted company.
I want to gift amt equal to USD 100k to my father, a resident indian, which he will put in a FD. When the time comes could I get this money back in my NRE account without having to pay tax?
Hi my brother is in dubai if he sends me protien supplements to me in india, would it be taxable ?
Hi Sunny,
No, it is exempt from tax.
How much money can my brother in law and sister send me as gift and family help in one financial year.How much amount can a American citizen send to relative in India as gift and family maintainence in a financial year as per American law
Hi Kawal,
As per my knowledge, it is up to $15000 in a financial year
Hi, If my sister (Indian resident) names my son (NRI nephew) as her contingent beneficiary, would the amount be subject to tax?
Hi Satish,
No, it is exempt from tax.
An NRI as second holder in an FD liable to pay IT
I am kidney failure ,I am coming from abroad,Now i need money for treatment,Can my father friend who is citizen australia sen me money in my saving account under family mantainance
Hi I am a US citizen but originally from India and my Indian brother wants to gift me money from India to US ? My question is can he do that ? What is the limit allowed ?
Hi Ash,
Yes, he can do that. Limit will depend whether he is your cousin or own brother.
If cousin then Rs 50,000 is limit whereas for own brother its totally exempted as he is your relative.
Does an NRI have to be present in India while gifting his apartment to his daughter?
Received gift rs80000 from his NRI friend how treat income from other sources
I am NRI. How can I get money gift from parents without any issue ?
Whether a gift from an NRI to his or her NRI spouse given and received outside India is taxable in India?
No, it’s not taxable in India.
I am UK citizen and my mother is indian citizen so can she trasfer money to my NRE account in India?
Hi Sandeep,
No, She can’t.
My son is a Canadian citizen and I have property worth 5 cror which I want gift him what do I do, the best way?
my late husband’s brother who is an indian citizen wants to gift money to his nieces, my children, who are US citizens. Are they considered in the relative category?
Hi Rani,
Yes, it is considered in the relative category.
Gift received from a relatives in foriegn country it is exempted or not
Hi Anusha,
It is exempted from tax.
in your definition relatived does not include uncles and aunty however if we check on other websites uncle and aunty are included as relatives and their gift is exempt from tax so y does your list does not have uncle aunty
Should stamp duty to be borne by NRO for gift received from indian resident?
I am an NRI living in Australia. I want to send 10 Lakhs to my brother in India who is a resident there. I want to send this amount through bank transfer as gift. My question is, will this amount be taxable in India either for him or me?Thanks.
Hi Sreepriya,
If your brother comes in the category of “relative” then the transfer would be exempt from tax else it would be taxed. please be sure that gift should be backed by a gift deed.
I am a person of Indian origin living in Sweden For the last 43 years. I have an inhertied property in India which i want to transfer or sell to my brother in blood relation. There are two way of doing it. One i just give him a gift and cost of transer deed will be around 1200 Rs but then i can not mention the amount we have decided the other i sell it at collecter rate and pay long term capital whatever it will be. property is registered on my name since 2000.In blood relation, my brother can gift me up to 250000 dollars /year without any permission from RBI So we both can give gifts to each other according to law. could there be any problem with income tax
Tax on gift of shares to NRI from resident ( Parents )
How much amount of miney can be transferred from gulf to india at once
A foreigner has provided a gift to a citizen residing in India. Is there is any limit under FEMA or any law?? If yes whether it attracts any provision under Income tax.. please let me know
2019, the rules of resident gifting to NRI has changed and is now taxable at the hands of the receiver. You may update.
I am NRI and if my gift my apartment to my son who is a resident, does he have to pay stamp duty, etc. The property is in Bangalore
If suppose my foregion friend is giving me 4 million in my account i want to know how much tax will be deducted and will it be fine with my Indian account?
I have received money from my son who is in foreign country whether I have to fill any form to claim tax exemption
Hi Lakshit,
As far as my understanding is no form is required. If it’s a major amount, gift deed is a preferred option.
What is the limit for an NRI to give gifts in cash (cheque, transfer in a/c), movable property, immovable property etc to his blood relative in India as per US tax laws, limit of gifted amount exempted from any tax liability for giver in US.
As per my knowledge, US NRI has a limit to transfer $15000 per year and 35% of tax would be levied if the amount exceeds this limit.
Does a person with RNOR status in India have to pay tax on a GIFT received in Indian NRE account paid from NON-RELATIVE abroad?
Hi Arun,
As per my knowledge, If the value of Gift exceeds 50000 INR then the whole amount will be taxed as per gift taxation.
I just want to remit some money to my first cousin lives in USA is there any implication on such remittance
it would be taxed if exceeds Rs. 50000
I want to gift a puppy to my friend who lives in quebec. What will be the tax liability in our hands
As per income tax, puppies are not covered under any kind of property say it may be moveable or immovable. So you can gift it without paying any kind of tax.
Hi how to get gift registration? what is the % of gift registration?
My daughter is NRI gifted 12lakh to me from NRI account.Need format for gift deed and what will be he tax liabilities for me and her
There is no tax implies on relatives, you can check the gift deed format just below this article
Can a resident Indian can return money recd from a friend in UK If so then what is the tax payable by Indian resident to return the money in recd in foreign exchange
Hi Sandeep
If the money exceeds 50000 than each of the transaction is liable for tax
I am a NRI. Can I transfer funds to my mother and ask her to invest in FDs? What’s the limit and what will be the taxes?
Hi Pankaj, there is no limit of sending money to your mother’s saving account but the interest earned on FD will be taxable to your mother’s income slab rate.
How many taxes is levied on case gift exceeds USD 10000 from a foreign friend to India. Is there any Penally for a cash amount.
Daughter is working in Singapore and having NRI account in India can she gift money from her NRI account to me in India
yes she can.
Is some one gifts us from UK. And we receive it in india. Shall we pay any amount to it ?? Will that amount is refunded??
Hi. Akhilesh
It will all depend on who that ‘Someone’ is. If he/she is your relative then the gift is exempted but If he/she is a non-relative person then the ceiling limit if Rs 50,000.
As an NRI CAN I MAKE GIFT TO ANY INDIAN FROM NRE account?
yes they can, but it is recommended to get it backed up by gift deed
Can a father in law send gift money to son in-law from India to USA
Hi Sunny,
Yes
I am an NRI leaving in Australia. I have a property in India. I want to gift it to my mum. I still have Rs 24,00,000 loan reamining. can i keep paying that loan after transferring the property or do i have to pay off the loan before transferring the property?
HI, I am NRI living i Australia. I have a property in India which i want to give to my mum. I still have Rs 24,00,000 loan remaining with the bank. Can i keep paying that loan after transferring the property to my mum or the loan has to be paid off before transferring the property?
My son and daughter in law are uk resident planning for applying uk passport. Should they do as they have property in india which generates income in india apprx 3 _4 lacs per year in form of dividend n interest.
i am indian resident and my wife is NRI staying in USA. can i get gift at USA?
My UK friend wanted to buy a house what is the solution she is NRI
If a resident indian receives gift abroad, is it compulsory for him to bring it back in india ? If yes, any time limit ? If no, can he invest in property abroad ? Any permission needed ?
is there any limit to the gift from a NRI relative that a resident can receive?
Hi Salman,
From my viewpoint, there is no limit. Gift from NRI relative are exempted from tax.
my brother is u s citizen and he wants to gift 100,000 us $ to my married daughter in INDIA,she is indian citizen. Is it taxable to my daughter or my brother in india or us
Hi Bharat,
Gift upto Rs50,000 is tax free from a non-relative. Since both your daughter and your brother are not relatives for each other in eyes of law, your daughter has to pay tax.
I am NRI, I want to give 15 lakhs rupees to my sister from my NRE account because her husband died suddenly a month ago. This is a gift from me to my sister and she will invest in jewelry for 8% return yearly to meet her day to day expenses. My question is whether me or my sister has to pay any kind of tax for the gifted amount or for the return?
Hi yahya
Sorry to hear that, yes you can transfer it but the interest on such investments would be taxable to your sister
I am a senior citizen Indian resident. Can i transfer my share of the gains from sale of property in india to my daughter who is passport holder resident of Netherlands as gift or for her marriage or to buy property abroad. What are the tax implications?
Dear Pravin,
Transferring is not an issue. It will not be taxed in India but not sure about how the Netherlands will treat this money.
iF I remit money to a non relative who is NRI , WHAT ARE THE TAX IMPLICATIONS AND ON WHOM?
Hi Dixit,
If your gift amount is upto Rs 50000, no gift tax on both receiver and giver. But if amount exceeds Rs 50000, then tax is payable by the receiver.The maximum limit for such gift is USD 250000 in one financial year
I have received 35000$ from a friend in US. I am from India. How much income tax i need to pay. He send money from my surgery and a marriage in family. We are friends not relatives
Hi Vishal,
When you receive a gift on occasion of marriage, it is exempt from tax irrespective of whether the giver is relative or not.
Other than that gift received from non-relative above Rs 50000 is taxable in the hands of receiver
My brother, who works in US want to gift me a Kawasaki sportbike!! So i want to know how to get the import license, import duties and related documents!!! Can you give me a detailed guideline over this please!!
Hi Vijay,
Its better you should consult a CA
Can an Indian resident send money to his nri uncle living abroad
Hi Ram,
Yes, you can send money to NRI uncle. Your NRI uncle is non relative, the gift is exempt up to Rs 50000 above that is taxable in the hands of the receiver. Maximum limit of transfer is $ 250000 in one financial year.
I have a non relative out of india and i want to gift a property that is mine, is it possible?
Hi Jagan,
Yes, you can gift a property to non-relative but the receiver have to pay gift tax in India if property value exceeds Rs 50000.
My brother who is in US for past 5years wanting me to gift a sportsbike…. so is that cost me any duties for accepting as a gift??
Hi Vijay,
You and your brother are relative. If your NRI brother gifts you sportbike then there will be no gift tax. Both giver and receiver are exempt from tax
I have received gift in foreign currency….so is it taxable
Hi Shreya,
As per RBI rules, residents are permitted to hold foreign currency upto 2000$. If foreign currency is within limit and received from relative ,no tax but if such foreign currency received by non relative then upto RS 50000 exempt beyond that taxable in the hand of receiver.
I live in the UK, I am not Indian, but have an Indian friend who lives in India. I have given this friend 320,000 rupees in installments. Does my friend need to declare this money for tax purposes?
Hi susanna,
Yes he has to pay gift tax in india as he is non-relative and amount of gift exceeds RS 50000
What is the tax implications for the receiver in USA in case an NRI receives usd gift from Indian citizen(a relative) via a bank transfer and what is the limit?
Hi Matri,
When an NRI receives gift from a relative in india,then it will be tax free for both giver and receiver in india. The maximum limit is $250000 in one financial year
when sn NRI is gifting a property of worth 4000000, what percentage of tax he needs to pay to indian government
Hi Vijay,
If NRI is gifting property to relative, then it is tax free for both giver and receiver.But if NRI is gifting property to non relative then upto Rs 50000 exempt above that taxable in the hands of receiver
I am an Indian. I want to transfer shares of a start uo company as a gift to My brother who is a US citizen but lives in india
Hi. Lokesh
Yes, You can gift it to your brother. The Taxability will depend on certain points.
1) Whether Your brother is consider as your relative in the eyes of law.
2) The Company you are choosing is of which country,
3) In what Quantity you want to transfer the shares.
I am a Indian citizen highly salaried person with all taxes paid. I want to gift my Nri son 1 million dollars. What is the formality
Hi Harsh,
As your son is relative, both giver and receiver are exempt from tax in india but the maximum limit of transfer is $250000 in one financial year
I have friend in France now sent me 17000 euros but my they are asking FCRA certificate is this right?
Hi hemant,
I wanted to get your specific views on the following 2 cases:
1. My husband who is a foreign national (OCI Cardholder) would like to make monthly transfers of €800 equivalent in INR into my a/c as gift or maintenance (*A. what is advisable btw the two formats for tax purposes?*). I’m currently a NRI although I’m based in India for a few more months while my visa is being processed (expected take 2-3 months).
*B. should he send the funds to my NRO or my NRE a/c?
*C. would those funds be taxable for me in India?
2. I would like to transfer INR20-30L into my mother’s a/c 3-5 times a year. She is an Indian resident.
*A. would this amount be taxable for her?
*B. could she transfer a portion of these funds into my indian a/c in future?
Appreciate your specific advice. Thanks much.
I am a resident indian. My daughter is NRI and earns in Euro. She has a NRE account. Daughter had taken education loan. Since she started earning she asked me to clear the loan and I have cleared the loan. She has sent me Rs.5 Lacs just now. is it taxable? This is the money which I have paid back to the bank when I got the maturity monies from deposits. She has actually paid back what I paid back to her loans?
Hi Raju,
Gift from NRI relative is exempt from tax for both giver and receiver. The amount you received is tax free in your hands.
Make sure that the amount you received is backed up by gift deed
Can I receive money from my cousin living in australia. Is it taxable in india. He is my mum’s sister son.
Hi Sudha,
Your mums sisters son is non relative for gift tax purpose.If you receive gift upto Rs 50000 it is exempt but beyond this limit it will be taxable in the hands of receiver.
If I (a resident individual) received gift (money in my bank account) from NRI (relative/non relative) then is there any FEMA compliance or any ceiling limit on such gift amount.Kindly also give section/rule reference.
I have a property in India and I have OCI.I want to sell that property b ut will attract 20% capital gains. Would I be able to gift it to my father who is an Indian citizen and he can sell it with 1% taxWhat do you think? Is there any other implication?
Hi Ashok,
I will suggest you to hire a good CA for tax planning
Can an Indian being a father make a gift of Rs. 35 lakh to his NRI son for purcahse of property in India? Money will be deposited in his NRO Account. What is limitation?
Hi Avi,
yes, there is no limitation as they are relative, Gift can be transferred but it should be backed up with a gift deed.
Do I need to pay tax if I want to send chocolates to India from Europe?
My husband and me, we are NRIs. My husband wants to gift me his flat in India but I am not in a position to goto India immediately. How do we make sure the gift deed is done?
if i transfer money from my nre or nro account to my savings Resident account then will be the amount taxable which is in savings account.
Can a person a foreign national residing in India gift his Commercial property to his son who is also a foreign citizen Non resident in India
Hi Pradnya,
Yes
I paid 10 lakhs from my NRE account to my fathers saving account account in india…is that taxable?
Hi Rizwan,
There is no question of tax on such transfers.
Father and son are NREs can one transfer funds from sb acct to another
Hi, Krishnan
Yes, Transfer is possible.
How much USdollar can an indiindivi in india recerec fromfan NRI in a year
Hi Rajesh,
If NRI is giving gift to relative in india , there is no monetary limit.
But there is a limit of $14000 per person per year for gift tax free transaction. Any amount above this would be taxed as gift tax
Is a monetry gift of 25 lakh from my late father’s brother – free from tax? Firstly is he considered a relative for tax purposes and secondly, as a resident in the UK, british citizen with OCI, how do I bring the gift back to the UK?
Is money transferred to sister who is a resident in India from NRE account of NRI (self) fully covered under gift to relative exemption as specified numerous times above and is this law likely to be changed anytime soon by the Indian govt ? Also if the NRI becomes a PR of any country will that safeguard resident sister better from paying tax on the gifts received via bank transfer ?
If a friend transfers about Rs. 10000 to 15000 Rs. every month to my savings account from USA to India will I be liable to pay tax on the same
Hi. Saima
Yes, That Amount will be added to your Income and will be Taxed as per your Slab rate.
My brother is an OCI , he wants to gift his inherited property tbrough a general poer of attorney . Is it legally allowed ?
Hi Sukumar,
Regarding legal matter, its better to consult a CA/ Lawyer
My son born in India obtained US citizenship before 7 years. He also holds PIO status. He has NRE AND NRO Saving Bank Account’s. My mother or my unmarried 71 years old sister wants to gift him INR 40,000-50,000. Obviously, cheque should be deposited in his NRO SA. Can he receive this cheque? Is gift deed necessary? If so, on Judiccial stamp paper of Rs 20/- is OK? Is it to be notorised?
Hw much nri brother can make a gift to married sister
Hi Mahesh,
There is a limit of 14000$ per person per year for gift tax-free transaction, any amount above this would be taxed as gift tax.
Hi, I am NRI and in Germany would like to buy a flat for my mother in India. The flat costs around 40 lakh and I have all money in my HDFC NRE bank account. Can I simply send the money to my Indian brother account, so that he can tranfer the money to the seller directly and my mother can have a flat. I just want to know what would be the best scenerio to avoid any kind of hassle. Thank you
It will be better if you can directly transfer that money to your Mother.
If i receive gift in the form of cash from my dad who for time being is an nri but later in the year he visits India and becomes a resident as per Sec 6, will that amount be taxable?
Hi Sushant,
As your father is relative, both giver and receiver is exempt from gift tax in india
Is money received by resident sister from NRI sister NRE account fully covered by the gift tax exemption to relative law, regardless of the amount received over a period of 4-5 years ? Is this law about to be changed by the Indian govt anytime soon ?
If the NRI sister becomes a PR of any country will this PR status better safeguard the resident sister from being taxable for the gifts received via bank transfer ?
Hi,
I am an NRI and my sister who is a resident of India deposits a check for Rs. 10,00,000 to my NRE account as gift, what documents should be given to the bank?
Thanks.
Hi Suguna,
I think banks doesn’t require any kind of documentations for such transactions.You have to keep a copy of gift deed for future reference.
Can My son who is currently studying in the US on a F1 Visa,gift me any amount he wants from his resident SB account in India.He is not yet a NRI. Will there be any gift or other tax applicable to both.He files Non resident 1040Nr-Ez returns in the US and normal resident IT returns in India
Hi Sanjay,
As you both are residents and relative,there will be no gift tax in india
i want to know if i have to pay tax on money received from my brother living in U.K
Hi Amit,
If you are receiving the money as a Gift from your NRI brother,who is a relative then it is exempt from tax for both receiver and giver in india. Remember transaction should be backed up by gift deed
Gift in foreign currency from a relative received in India ?
Hi Shiva,
As per rules, residents are permitted to hold foreign currency upto 2000 USD or equivalent provided the foreign exchange was acquired by way of gift from resident outside india and who is on a visit to india
If we take property from nri person we r resident Indian how much tax calculate
Hi Radhey
If resident receives property from NRI relative then it is exempt from tax in India but if NRI is non-relative then the value in excess of Rs 50000 is taxable as gift tax in India. It is better to hire a CA for proper tax calculation
Please advise gift tax laws in case if grand parents in India have life insurance policy for minor grand children in USA as gift having US citizenship at the time of maturity
Hi JK Mahajan,
As grandchildrens are relative,both giver and receiver are exempt from gift tax in india
The gift in the form of a cheque from Father in Law is taxable for an NRO account?
Hi Arya,
Child’s spouse is covered under relative definition and NRI( father-in-law) can gift through cheque to resident indian, who is a relative and both receiver and giver are exempt from tax in india.
Gift Given to nri,it is taxable for payer and If income is chargeable to tax in India and any relief is claimed under DTAA-?or not
Hi AG,
First we should check whether NRI is relative or not, If he/she is relative then both receiver and giver are exempt from tax in india.
If NRI is non-relative then subject to certain exemption as mentioned above in article, gift tax is applicable and receiver have to pay tax in india. Regarding DTAA, its better to consult a good CA.
Bank says I cannot gift sharesTo my children who are non-resident but your article here says otherwise how do I resolve this
Hi Suja,
You can gift shares to your children as they are relative to you provided RBI approval is required and regulations & compliances are required to be fulfilled like gift does not exceed 5% of the paid up capital of the company, sectoral cap is not breached, total value cannot exceed 50000USD in one financial year etc. Its better to consult a good CA for such matters
I want to send 400000 for my grandmother is taxable
Hi Kumar,
As your grandmother is relative, both giver and receiver is exempt from tax in india. Remember it should be backed up by gift deed
Hi,
I’m a resident Indian. I would like to gift INR 7 lakhs to my paternal uncle (Tauji) who lives in the USA. I would like to transfer the money to his NRO account via NEFT transfer from my SB AC.
What are the Tax implications and FEMA regulations compliance should I consider for the transaction?
Thanks,
Hi Ani,
Firstly your NRI uncle is non relative, gift upto Rs 50000 is exempt but beyond that is taxable in the hands of receiver. The maximum limit of transfer is $250000 in one financial year
I am a NRI (now USA citizen) in old age. I want to gift my life’s savings which are in NRO account in India to my children in USA (who also are USA citizen). What is the limit of transferring money from Indian NRO account to their USA as a gift? What documentation do I need to submit to my bank in India?
Hi Mohan,
The limit of transferring is upto 1 million USD in one financial year. Mainly, you need to submit two documents 15CA and 15 CB.
Form 15CA is an undertaking by the NRI to remit Funds and this form is submitted online and acknowledgment should be signed and submitted along with form 15CB in bank. Form 15CB is a CA certificate
What are the income tax implications of transferring funds from one NRE account to another NRE account. The NRE accounts are under different account holder names and different banks.
Dear Naman,
It’s a gift, loan or just normal transfer in the family.
I have sold a property in India and paid the capital gains tax etc. The money is in my NRO account . I am a NRI based in UK. Can I remit the tax paid money as gift to my son and daughter in their UK bank account from my NRO account ?I have the CA certificate as well. Is there a limit how much can I remit outside India ?
Hi Brij,
As your Son and Daughter are both relative, you can remit this amount as gift and no gift tax attracted to both receiver and giver.But remittances from NRO to NRE account are limited to USD 1000000 in a financial year.And further proper documentation is needed to send this money. You should hire a CA for this.
My brother is a NRI and he is planning to send me Rs 2000000 as a gift. I am a resident Indian.
Hi Krish,
Yes, you can receive it, as your NRI brother is relative. Both giver and receiver are exempt from tax in india. Ensure that this gift should be backed up by gift deed for reference.
Joint flat owners. Husband n wife. Husband NRI wife resident indian. They want to sell this flat. To avoid high TDS upto 23.92% can the NRI gift the flat to wife and then wife sells the flat immediately so that TDS is 1%
Hi Surendra,
Regarding this, its better to consult a CA
My father has a property (vacant land) under his name & he purchased this property in 2005 for Rs.10Lakh and now it’s worth Rs.20 Cr. I am an NRI and I would like to understand what is the best option to minimise the tax / CGT.
1) option#1: I receive the land as a gift from him, I sell the land and transfer the sale proceed to my overseas bank account via my Indian bank account
2) option#2: He sells the land and transfers the money to my bank account as gift and I transfer the money from my Indian bank account to my overseas bank account
I understand that there are other factors like FX and taxation laws of my residing country. I’d like to understand if there is any other (legally abiding) option that is better from a financial perspective.
Thanks for your help & guidance.
Regards.
My suggestion is you should hire a CA for this.
Hi what was the best option that worked for you?
Can nri gift to brother children wife? How much gift allowed to gift by us citizen (nri). To relative in 1 year
Dear Subhash,
Yearly limits are revised every year – right now it’s $15000 per year. Regarding “Can nri gift to brother children wife?” – I will suggest you to check with US CPA.
Does an NRI having stock market investments have to pay taxes on the capital gains before repatriating funds from India to his / her overseas bank account and at what rate?Can NRIs also file their returns online
?
Yes Abhishesh – NRIs have to pay capital gain tax
https://www.wisenri.com/tax-rates-for-nri-indian-income/
Can my sister-i-law & her husband gift me money above Rs.20Lakhs from USA, & not attract tax?
Hi Avi,
As you see above in the Article, Sister-in-law and her husband are not covered in Relative definition. From non relative you can receive gift tax free upto 50000rs and beyond that only on specific occassion like on marriage or through will.
Does a British national with OCI Card have to pay gift tax when receiving cash from Indian relatives as gift
Hi Osma,
If you are receiving gift from relative, both giver and receiver is exempt from tax in india.
My daughter in US is a neighborhood. How much can she gift mother and sister in 2019 from her nro account.
Mother and sister residents on India, staying in India. Will she have to show the gift given to her tax consultant in the US if it’s below the limit?
Hi SW,
My understanding is she can easily gift $14000 to her mother.. not sure about sister.
My son is working in Nigeria and he wants to send gift in dollar to my and my wife account and also he wants to send gift in dollar to my huf account, can it tax free income in India. please confirm
Hi Ajay,
As your son is relative to you and your wife , there is no gift tax in your’s and your wife’s hand whether you receive gift in dollors or rupees.And Gifts received by HUF from members is exempt from tax. Remember that such gifts should be backed up by gift deed.
what all documents needed to gift a property to indian resident by NRI?
Hi Deepti,
You have to prepare a gift deed, which contains details of the property which you want to gift.Such deed also provide as a evidence for tax exemption in the hand of receiver.
I am NRI and my wife stay in India. How much money I can give to my wife in a year through Cheque or bank transfer
Hi Tushar,
There is no limit on Cheque or Bank transfer but there is a limit on cash gift which is Rs 200000. Above this amount, there is a penalty
I am a NRI. I want to send money from my US account to my brothers resident acccount a sum of Rs 10 lacs as a Loan or gift .Can I do that
Hi rohan,
Yes you can do that as you are NRI and your Brother is relative.If you are giving that amount as a gift, your brother can claim gift exemption regarding this.
Can I take gift from my nri son at my huf file
Hi Ajay,
Yes, you can as your son is member of your HUF
Gifts received by HUF from its members is exempt. But gift received by HUF from relatives of members shall be taxable.
1. with reference to the point that NRI relative can receive gift in form of cash,cheque items or property from resident relative, is there a limit on the amount in cheque/cash that can be given to the NRI?
2. are uncles, nephew, neices included in relatives definition for any such gift deeds?
Hi shrikant,
1. Cash gift that exceeds Rs 200000 is subject to penalty and other than that is tax free
2.You can check relative list above in this Article
Thanks for a very informative post. I have a question: A NRI transfers rs. 10.000 every month from his nri account to his resident indian brothers savings account in order to assist him financially. Is this deal taxable? If yes, who has to pay and how much?
Hi nutan,
If a NRI gives Gift to Resident Indian (Relative),it is exempt from tax in hands of both receiver and giver.You are sending money through bank transfers amounts to RS 120000 yearly. Your brother can claim this amount as gift and it is exempt from tax in his hand. Remember this Gift should be backed up by gift deed to claim exemption
In India receiver pays gift tax. Receiving Brother is a relative and any amount of gift from a relative (brother/sister) is NOT taxable to him in India. But there may be taxation to giver in the country of residence. Please check on that. In USA the giver of gift is taxed if the yearly amount of gift exceeds USD 15000/- (Rs.10,50,000/-approx.). But your yearly total gift amount is only Rs.1,20,000/-. So No Tax in USA. Check tax rules if you are residing in any other country.
Husband is NRI, and he is gifting money to his wife who is resident indian. This transfer is from husband’s NRE account to wife’s Resident saving account. If she does the FD and earns interest income. Taxation point of view, who will have to pay tax on this income husband or wife?
Hi MK,
In the case of wife or minor kids – clubbing of income will apply. Husband will pay the tax.
As resident indian, I want to gift my NRE daughter $ 10,000. What does it mean by ” it is tax exempted in India for giver and receiver. Can the giver reduce this gift amount from his taxable income. What is limit for giving US$ as gift to NRI relative.
Hi Vimal,
Sorry I am not able to understand this “Can the giver reduce this gift amount from his taxable income” – this is a gift & not donation.
Gifts either in India or USA are NOT tax deductible.
I am Basha from Chennai 63 years old. I want give money from my properties who is in settled in Australia with P.R. How much I can transfer to my son. Did I should pay tax in India.
My son should pay tax in Australia.
Please clear my doubts
Thanks
How are cash transfers by a resident or NRI father to resident son through net banking are treated for tax for giver as well as receiver?
Dear Sanjay,
If I assume son is major – in that case, there are no tax issues in India. But to show that transferred amount was a gift – one can write a simple gift deed.
In case of a minor son – any income from such transfer will be added to father’s income.
Will you please elaborate the procedure for gift deed ? Can you provide an example how to do it, if an Indian citizen simply tranfers fund to NRI relative through Netbanking?
The limit to gift to US NRI is 15 K in 2018, every year it is revised.
You need to define who are all relatives.
Useful article, may add a para on bank/ IT formalities as well. SOme banks ask for specific forms from auditors to send gift money to NRIs.
Thanks for your suggestions – I have updated US NRI limits.
US gift laws are not applicable to non US persons(people who are not US passport or green card holders or not resident in USA on a H1B visa or any other visa). If cash is gifted no issue and if the amount is above $100K the donee has to notify tax authorities since he is a resident in USA. If a property in USA is gifted then there are tax implications
Gift by NRI who is staying in USA and is green card holder , and he is giving his immovable property ( shop) stake in partnership firm ( partnership firm owns the said shop) to his real mother. Then any tax is payable in USA by him?
The said stake is declared in his FBAR and US returns
Non relatives