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Query: Is Monetary gifts received by a non-resident person chargeable to tax

Category: Income Tax

Answer: Yes, w.e.f. 05th July 2019, any sum of money by an any person Resident in India to a Non-Resident person or a foreign company is chargeable as monetary gift as income from other sources. That will be treated as income deemed to accrue or arise in India.

Date Posted 29-Dec-2019
Posted By Kumar Prakash
Views: 361

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