Gift Tax

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  1. RAJA RAO KOLLIPARA

    RAJA RAO KOLLIPARA New Member

    Dear Sir,


    If i receive an amount as gift from my daughter who is staying in US, whether I need to pay any tax in India.
     
  2. sai tejesh(ca.final)

    sai tejesh(ca.final) Active Member

    Gift received from daughter is exempted u/s 56 of the Income Tax Act 1961.
     
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