Is gift tax applicable in india
From 2002 to 2010, I was working abroad.
Be Wise, Get Rich.Just give us a missed call on to explore our unique Free Advisory Service.Follow 3 answers.Want to know more about tax planning?5 stars to best answer!Your gifts must not turn out to be a burden on the receiver.Gifts will be taxed if: You receive gifts other than on occasions mentioned above.The rent you get is taxable in your hands.You have to report the value of the gifts that you receive as taxable income under the head Income from other sources.
As you are giving it to your brother there is no limit on the amount of money that can be gifted.
We at m will make it easy for you.
iditarod prize money 2009 />
Having mentioned gifts and the amount of love they represent, the law somehow thinks that too much love is not healthy, if it comes free of cost.