Tax implication of cousin's gift to an NRI in India: Expert insights
Mint Mumbai|November 26, 2024
My wife and I live and work in France. My wife's cousin wants to gift her money by wire transfer. Will it have any tax implications for my wife in India?
Harshal Bhuta

—Name withheld on request

Under the foreign exchange regulations, your wife's cousin is permitted to gift money via remittance to your wife's bank account in France. Indian tax law specifies all relatives who can give or receive gifts without any tax implication. Under the rules, relatives in relation to an individual are husband, wife, brother or sister, or lineal ascendant/descendant of her.

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