Analysis of taxability or otherwise of gift received by a U.S. Citizen from parents in India

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  • By Taxmann
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  • Last Updated on 10 March, 2022

taxability of gift received; taxability of gift for NRI from indian citizen; OCI; US Citizen

S. Krishnan – [2022] 136 taxmann.com 113 (Article)

The question that is posed and required to be answered is whether an OCI settled in America with citizenship there can take gift from his/her parents in India without attracting any tax liability in his/ her hands?

Before answering this question let us understand about the concept of gift vis-à-vis levy of gift tax.

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