Can NRI gift share to resident of India?

An NRI can gift shares to a resident Indian freely. The shares acquired through the PIS route cannot be transferred by way of a gift without prior approval from RBI unless they are being transferred to a relative as defined under Section 6 of Companies Act. … There is no tax levied on the NRI gifting the shares.

Can NRI gift property to Indian residents?

The Indian income tax laws relating to taxability of gifts are the same for Resident Indians and NRIs. However, if an NRI is involved in the gift transaction (giver/receiver) then additional tax laws may apply. … Such income is taxable at applicable tax rates in the year of receipt.

Can NRI give gift to resident Indian under FEMA?

Yes. A resident individual can gift his NRI relatives in Indian rupees as well as foreign currency under Liberalized Remittance Scheme (LRS) within the limit of USD 250,000 per resident relative per financial year.

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Can a non resident gift shares to a resident?

Non Resident to Non-Resident (Sale / Gift): A person resident outside India (other than NRI and OCB) may transfer by way of sale or gift shares or convertible debentures to any person resident outside India (including NRIs but excluding OCBs).

Can NRI transfer money to relatives in India?

It is perfectly legal to send money to your parents in India and they will not incur any tax on the transferred amount. However, if they invest this money, then the income they receive will be taxable in their hands.

How much money can be legally given to a family member as a gift in India?

Please note that as per the present provisions of tax laws in case a person accepts any gift beyond Rs. two lakhs in cash, he may become liable to a penalty equal to the amount of gift accepted in cash. So avoid accepting gifts beyond two lakhs in cash.

Who can give gift in blood relation?

3) Gifts from specified relatives are exempted, regardless of amount. These relatives are spouse, father, mother, brother and sister. They also include any lineal ascendant or descendant of the individual or his spouse as well as brother/sister of the spouse.

Is gifted money taxable in India?

If the total value of money received by an individual during a financial year exceeds Rs 50,000, the entire amount of money received by such individual will be taxable as ‘income from other sources’ for that individual. The gift will then be taxable at the tax rates applicable to him/ her.

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Can NRI gift money to parents?

Also, gifts received outside India from foreign friends will not be taxable in India as Ayush is a Non-Resident. However, gift of money received in India from his friends or non “relatives” (relatives not in the specified category of relatives) in India will be taxable in India.

Can I receive gift in NRE account?

Money/ liquid funds

An NRI is allowed to receipt money as gift from a resident Indian under the Liberalized Remittance Scheme (“LRS”), within the limit of USD 250,000 in a financial year as prescribed therein. The donor and the recipient need not be close relatives.

What is ODI form of RBI?

An Indian Party (IP) / Resident Individual (RI) which has made an Overseas Direct Investment (ODI) has to submit an Annual Performance Report (APR) in Form ODI Part III to the Reserve Bank by 30th of June every year in respect of each Joint Venture (JV) / Wholly Owned Subsidiary (WOS) outside India set up or acquired …

What are FEMA rules?

FEMA is a regulatory mechanism that enables the Reserve Bank of India to pass regulations and the Central Government to pass rules relating to foreign exchange in tune with the Foreign Trade policy of India.

Can NRI participate in buyback?

If you hold shares in your Non-PINS account, then you can apply for the live buyback from IPO section by following the steps: Login to your account Trade & Invest > IPO > APPLY FOR IPO / FPO / BUYBACK > Action: GO against the share Buyback option.

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Can a daughter gift money to her father?

There is no restriction on the amount of money you can gift your parents under the Income Tax Laws of India. However, any income earned from such money, if invested by your parents, will be taxable as per the clubbing provisions. … In both scenarios, there will be no tax implications on such income.

Is money gifted by parents taxable?

If the total value of money received by an individual during a financial year exceeds Rs 50,000, the entire amount of money received by such individual will be taxable as ‘income from other sources’ for that individual. The gift will then be taxable at the tax rates applicable to him/ her.

Can I gift money to my mother?

An individual assessee can gift any amount to his/her mother without involving any tax liability in the hands of the donor or the donee. There is no limit up to which gift can be given to the mother by a son or a daughter. … The gift should be made by an account payee cheque or an account payee draft.