New answers tagged income
No. Indian tax law doesnt qualify "gifts" as taxable income. You can use this service xoom.com to do large chunks of money without even going to a bank. In fact they now have a cell phone app that supports transfers to Indian Bank Accounts.
As per Indian Tax Laws, shares which are held for more than 1 year are exempted from the levy of Tax. Assuming that these shares were held by your father for more than 1 year - No tax would be levied on the sale of such shares. In case these shares have been held for less than 1 year, the income applicable would be 15% of profits. I have previously ...
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