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Guys what if an NRI wants to buy a flat and gift to a relative? Are taxes payable?

3 Answer(s) | NRI

Hi Rashi, actually NRI investors often take this route for giving gifts to their family members or relatives including their parents, brothers/sisters and so on. For starters, NRI can easily buy India property and he/she can even take out a bank loan for this purpose of investment. Tax implication will be zero for gifting the said property to brother/sister or parents who are included in the list of tax exempted relatives as per Indian tax laws. So it all depends on which relative the NRI is gifting the flat to.

RE: Guys what if an NRI wants to buy a flat and gift to a relative? Are taxes payable?

Answered on September 15, 2020.
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Thank you Mohon. It will be gifted to the NRI’s brother who stays here in India. Then you are saying that it is possible without any taxes right?

Answered on September 15, 2020.
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Then like I said, tax liability will not be there. Brother is eligible relative for getting exemption from tax on property gift from an NRI.

Answered on September 15, 2020.
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