Income tax on gifts in uk
sanjiv batra
(Querist) 22 February 2012
This query is : Resolved
I am a UK citizen of Indian origin.If I visit India and receive a gift from my sister,who is citizen & resident of India,then is there any tax payable in UK since no tax is payable on receiving or giving gifts between brother and sister in India under Indian Income tax law?
Sailesh Kumar Shah
(Expert) 22 February 2012
About taxation in UK about gift transaction, you have to check law of that country, In India, you are rightly understand that no tax payable in INDIA.