Gifts by resident of India to a person outside India deemed to accrue as income in India- taxable as income subject to some exceptions. The proposal seems beyond power to impose tax on income.

Gifts by resident of India to a person outside India deemed to accrue as income in India- taxable as income subject to some exceptions. The proposal seems beyond power to impose tax on income. https://www.taxtmi.com/article/detailed?id=8597 The amendment to section 9 deems gifts of money or property situated in India, made by an Indian resident to a person outside India, to accrue or arise in India and thus be taxable, while preserving existing exemptions under the proviso to clause (x) of sub section (2) of section 56 and recognising applicable DTAA provisions in treaty situations. en-us Mon, 08 Jul 2019 15:18:17 +0530 Mon, 08 Jul 2019 15:18:17 +0530 TaxTMI RSS Generator Gifts by resident of India to a person outside India deemed to accrue as income in India- taxable as income subject to some exceptions. The proposal seems beyond power to impose tax on income. https://www.taxtmi.com/article/detailed?id=8597 The amendment to section 9 deems gifts of money or property situated in India, made by an Indian resident to a person outside India, to accrue or arise in India and thus be taxable, while preserving existing exemptions under the proviso to clause (x) of sub section (2) of section 56 and recognising applicable DTAA provisions in treaty situations. Articles Budget - Tax Proposals Mon, 08 Jul 2019 15:18:17 +0530 https://www.taxtmi.com/article/detailed?id=8597