NON RESIDENT INDIAN GIFT FROM A STRANGER – NEITHER GENUINE NOR VALID

NON RESIDENT INDIAN GIFT FROM A STRANGER – NEITHER GENUINE NOR VALID https://www.taxtmi.com/article/detailed?id=6001 Nonresident Indian gifts from strangers will be treated as bogus and added to income unless the assessee proves natural love and affection (or an equivalent close relationship), the donor's financial capacity, and corroborative transactional evidence such as bank statements and remittances through proper banking channels; absent these elements or where donor statements are contradictory, the Assessing Officer may recharacterise the receipt as income from undisclosed sources. en-us Fri, 09 Jan 2015 10:15:23 +0530 Fri, 09 Jan 2015 10:15:23 +0530 TaxTMI RSS Generator NON RESIDENT INDIAN GIFT FROM A STRANGER – NEITHER GENUINE NOR VALID https://www.taxtmi.com/article/detailed?id=6001 Nonresident Indian gifts from strangers will be treated as bogus and added to income unless the assessee proves natural love and affection (or an equivalent close relationship), the donor's financial capacity, and corroborative transactional evidence such as bank statements and remittances through proper banking channels; absent these elements or where donor statements are contradictory, the Assessing Officer may recharacterise the receipt as income from undisclosed sources. Articles Income Tax Fri, 09 Jan 2015 10:15:23 +0530 https://www.taxtmi.com/article/detailed?id=6001