NRIs guide to property received as gift


The set of tax and regulatory implications for properties received by NRIs as gifts are different from those received as inheritances. Now, while NRIs and PIOs can receive property as gifts from a person resident in India, from another NRI or from a PIO, the property can be only commercial or residential property. Agricultural land, plantation property and farm house in India cannot be acquired by way of gift. A foreign national of non-Indian origin cannot acquire property in India by way of gift.

Gifts received from ‘relatives’ (spouse, sibling/sibling in law, uncle or aunt, and any lineal ascendant or descendant of the individual or the spouse). If the gift was received on the occasion of marriage or from a registered trust, it may be exempt from this tax.

Any gifts over Rs 50,000 received from people who are not relatives are taxed as income by those receiving the gift.


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