Cash gifts are tax exempt but interest from them is taxable3 min read 07 Aug 2017, 05:33 PM IST
Income tax is payable on any money received by an individual without consideration, except gifts received from a relative
I live in Poland and remit money regularly to my brother in India, who takes care of agricultural property in our village. He deposits this money in an account in his own name. Does he need to pay tax on it? Also, does he have to pay tax on any interest earned on this money? My brother has other sources of income, besides agriculture and files a tax return every year.
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