| Author | Message | ||
     Hero Username: Reddit Post Number: 10397 Registered: 05-2013 Posted From: 122.175.23.141 Rating: N/A |
In the same way, gifts from the following sources are tax exempt irrespective of amount received as Gift: Any blood/close relative*Gifts received on your wedding Gifts received by Inheritance or by Will We're so quick to point out our own flaws in others. | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 2651 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
General gaa nenu koncham ekkuva bhayapaduthu untanu. Naa confidence break chesteventi bhayya nuvvu. anyways still I am right in this case  http://profit.ndtv.com/news/your-money/article-tax-implicati ons-on-giving-or-receiving-gifts-384598 https://in.finance.yahoo.com/news/find-out--how-are-gifts-ta xed-054645277.html | ||
| Hero Username: Reddit Post Number: 10396 Registered: 05-2013 Posted From: 122.175.23.141 Rating: N/A |
nope you are mistaken vere vallu eppudanna less than 50K ivvochu. Blood relatives ki one time chance is there which they can do it during marriage or put in their Will. Oka sari check with your CA We're so quick to point out our own flaws in others. | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 2650 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
Malli ade antavu. relatives aithe eppudaina ivvocchu. vere vallaithe ne wedding time lo. | ||
| Hero Username: Reddit Post Number: 10383 Registered: 05-2013 Posted From: 122.175.23.141 Rating: N/A |
Yeah adhe seppedhi only wedding appudu ani & the caveat is that the gift giver should be able to prove the source of these funds. Usual practice enti ante Gold gifting chesukuntaru grand parents peru medha. Own parents ante malla adhi valla returns lo reflect avvali kadha  Weekend kada  We're so quick to point out our own flaws in others. | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 2649 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
kaadu any gift to blood relatives including grand parents, uncles, aunts and their parents is not taxable. for any one gifts with in one year of wedding are not taxable. BTW naakante ee america gola undi, neeku emi pani ee time lo melukoni unnavu | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 2648 Registered: 06-2012 Posted From: 49.205.116.106 Rating: N/A |
gifts valuation ela untado CA ni adagali | ||
| Thokkalohdi Side Hero Username: Thokkalohdi Post Number: 4760 Registered: 01-2008 Posted From: 24.130.117.120 Rating: N/A |
ikkadey porabatu. Ne valuation prakaram loss avvachu kani. Aaa time lo jarigina registration price tho compare chesi neeku loss raledu ani decide chesthey???? so total strategy depends on whose valuation is considered. which is weak. Ranbir Kapoor is god of acting | ||
| Thokkalohdi Side Hero Username: Thokkalohdi Post Number: 4758 Registered: 01-2008 Posted From: 24.130.117.120 Rating: N/A |
When you are "gifting" your parents with intent of receiving "gift" back its not "Gift" anymore. Having Said that, Some people from Singapore are doing something like this which i dont know fully understand it either. I suspect all these houses bought by full cash in bay area involve around this "gifting" clause. But i dont understand how they are getting benefitted. Some scam is happening. Only IRS can investigate amma... these singapore guys are gettin unfair advantage over ppl who pay tax lawfully. Ranbir Kapoor is god of acting | ||
| Rajusk Legend Username: Rajusk Post Number: 34735 Registered: 02-2008 Posted From: 170.74.55.81 Rating: N/A |
thanks for the info your honor | ||
| Hero Username: Reddit Post Number: 10370 Registered: 05-2013 Posted From: 122.175.23.141 Rating: N/A |
I think this is only in the case of receiving the said gift during your wedding or by Inheritance/Will. We're so quick to point out our own flaws in others. | ||
| Wellsfargo Side Hero Username: Wellsfargo Post Number: 2647 Registered: 06-2012 Posted From: 49.205.116.106 Rating: |
Just thinking of this loop hole. In the US, the gifts you get from Non residents is not taxable. You just need to report on the gifts that you obtain if they are priced more than $100k. Now lets say you plan to purchase a property, you gift cash to your father or mother and they will buy the property and gift it back to you. In India gift to relatives is not taxable. When you report the gift, provide a very high value as the price. so you will be owning a plot at a high value and when you sell it, you will actually make loss. Now that loss can be deducted from your regular income. Am I missing something. |
