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| *Ostroff, Fair and Company>>>Other Taxes |
Will the Recipient in india will be liable to tax if i send money to him? |
I live in US and i want to send some money to a relative.So is the recipient ie the relative in my case,liable to any TAXES. All the above answers are b.u.ll.s.hit.. I m a Tax student..I'll tell u the implications..:: If u send money to an Indian citizen as a GIFT, then it is USUALLY TAXABLE under the head 'Income from Other Sources' but there r EXCEPTIONS to it: 1.If such cash gift is recieved from a relative then it is not taxable. 2.If it is recieved as a gift on wedding, then also it is not taxable. 3.If it is given by way of will or inheritance, it is not taxable. In ur case exception no.1 will be applicable I guess but u have to specify the relation. If u can provide me additional details on how exactly u r related to this person, then I can tell u the consequence. Most likely, u will be included in the definition of 'relative' as per Indian Income Tax Act, since it contains the widest definion. I hope this helps u... Write back for more info. ! Source(s): The Income Tax Act,1964. (India) Yes...its taxable as ordinary income... If he is a non US citizen, and a resident of India NO! If he claims to be a US resident, there is a possibility he may have to file a tax return dependent on his personal filing requirements. www.irs.gov |
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