gift from sister in us to brother father

sobhit (Querist) 15 May 2016 This query is : Resolved
Sir
My sister is married and she is nri lives in usa. Is she can give gift of amount more than 5lacs to her bother mother or father. Is that amount taxable.money is for business purpose . If taxable we can take as a loan in our books.then can we get rid of tax.

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sobhit (Querist) 15 May 2016
Gift from sister in us

ramaraju ramaiah (Expert) 15 May 2016
gift made to sister brother mother or father by NRI is also exempted. If you are taken as loan from her for business you are entitled to deduct TDS on interest payment to nri

Rajendra K Goyal (Expert) 16 May 2016
Gift to certain near relative (including patents, brother, sister) is exempted from tax.

Suhail A.Siddiqui (Expert) 16 May 2016
Gift to blood relative, which is already defined under Income Tax Act,1961 is Tax free

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