LAWyersclubindia LCI
Login  Register
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

REMMITANCE RECEIVED FROM ABROAD

(Querist) 16 December 2009 This query is : Resolved 
I AM RECEIVED REMMITANCE(MONEY)OF RS.2 LAC FROM MY UNCLE (WHO RESIDE IN USA) BY WESTERN UNION IS IT TAXABLE UNDER IT ACT
Report Abuse
Raj Kumar Makkad (Expert) 16 December 2009
Yes. It is taxable in your hands.
Vineet (Expert) 17 December 2009
The taxability of remittance depends upon your exact relationship with your uncle. Is he your father's or mother's brother? In that case the sum received in your hand is not taxable at all.

In other case the receipts are taxable in excess of Rs 50,000/- (Total taxable gifts received in cash and kind during one financial year)

Previous
Next

You need to be the querist or approved LAWyersclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :



Ask Query
Unanswered Queries

Laws Follow us





Browse by Category

Stay updated with latest Posts!