{"id":685,"date":"2023-06-07T09:19:13","date_gmt":"2023-06-07T09:19:13","guid":{"rendered":"https:\/\/vibrantfinserv.com\/kb\/?p=685"},"modified":"2024-06-08T09:44:59","modified_gmt":"2024-06-08T09:44:59","slug":"funds-taxability-from-indian-parents-for-nri","status":"publish","type":"post","link":"https:\/\/vibrantfinserv.com\/kb\/funds-taxability-from-indian-parents-for-nri\/","title":{"rendered":"a person who is settled abroad can receive money from their parents in India without having to pay taxes on it?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/vibrantfinserv.com\/kb\/funds-taxability-from-indian-parents-for-nri\/#Funds_Taxability_from_Indian_parents_for_NRI\" >Funds Taxability from Indian parents for NRI<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/vibrantfinserv.com\/kb\/funds-taxability-from-indian-parents-for-nri\/#For_further_details_access_our_website_https_vibrantfinservcom\" >For further details access our website https:\/\/vibrantfinserv.com<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Funds_Taxability_from_Indian_parents_for_NRI\"><\/span><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-18 alignleft\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png\" alt=\"\" width=\"111\" height=\"53\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ.png 482w\" sizes=\"auto, (max-width: 111px) 100vw, 111px\" \/><br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/33.Funds-taxability-from-Indian-parents-for-NRI-300x300.jpg\" alt=\"Funds taxability from Indian parents for NRI\" width=\"189\" height=\"189\" \/>Funds Taxability from Indian parents for NRI<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;As per the income tax rules in India, individuals residing abroad can receive money from their parents living in India without being liable for taxes, given certain conditions are met.\\n\\nUnder the provisions of the Income Tax Act, 1961, gifts received from specified relatives, including parents, are exempt from taxation for the recipient. Therefore, if an individual receives money as a gift from their parents, it will not be subjected to taxation in India, regardless of whether the recipient is a resident or non-resident of India.\\n\\nIt is important to note, however, that if the received money is considered as income (such as salary, interest, dividends, etc.), it will be subject to tax in accordance with the relevant tax laws. In such cases, the recipient, even if a non-resident, will be required to pay taxes on the income earned in India.\\n\\nFurthermore, if the individual possesses investments in India, such as bank accounts, stocks, or property, any income derived from these investments will be subject to taxation in India, irrespective of the individual's residency status.\\n\\nIt is advisable for non-residents to seek guidance from tax experts or chartered accountants to gain a better understanding of the tax implications associated with receiving money from India, considering their specific circumstances.&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15235,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:65280},&quot;10&quot;:2,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri, sans-serif&quot;,&quot;16&quot;:10}\">Funds taxability from Indian parents for NRI, As per the income tax rules in India, individuals residing abroad can receive money from their parents living in India without being liable for taxes, given certain conditions are met.<\/span><\/p>\n<p>Under the provisions of the Income Tax Act, 1961, gifts received from specified relatives, including parents, are exempt from taxation for the recipient. Therefore, if an individual receives money as a gift from their parents, it will not be subject to taxation in India, regardless of whether the recipient is a resident or non-resident of India.<\/p>\n<p><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;As per the income tax rules in India, individuals residing abroad can receive money from their parents living in India without being liable for taxes, given certain conditions are met.\\n\\nUnder the provisions of the Income Tax Act, 1961, gifts received from specified relatives, including parents, are exempt from taxation for the recipient. Therefore, if an individual receives money as a gift from their parents, it will not be subjected to taxation in India, regardless of whether the recipient is a resident or non-resident of India.\\n\\nIt is important to note, however, that if the received money is considered as income (such as salary, interest, dividends, etc.), it will be subject to tax in accordance with the relevant tax laws. In such cases, the recipient, even if a non-resident, will be required to pay taxes on the income earned in India.\\n\\nFurthermore, if the individual possesses investments in India, such as bank accounts, stocks, or property, any income derived from these investments will be subject to taxation in India, irrespective of the individual's residency status.\\n\\nIt is advisable for non-residents to seek guidance from tax experts or chartered accountants to gain a better understanding of the tax implications associated with receiving money from India, considering their specific circumstances.&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:15235,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:65280},&quot;10&quot;:2,&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri, sans-serif&quot;,&quot;16&quot;:10}\"><strong>Funds taxability from Indian parents for NRI:<\/strong> <\/span><\/p>\n<p>It is important to note, however, that if the received money is consider as income (such as salary, interest, dividends, etc.), it will be subject to tax in accordance with the relevant tax laws. In such cases, the recipient, even if a non-resident, will be require to pay taxes on the income earned in India.<\/p>\n<p>Furthermore, if the individual possesses investments in India, such as bank accounts, stocks, or property, any income derived from these investments will be subject to taxation in India, irrespective of the individual&#8217;s residency status.<\/p>\n<p>It is advisable for non-residents to seek guidance from tax experts or chartered accountants to gain a better understanding of the tax implications associated with receiving money from India, considering their specific circumstances.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>To Visit <a href=\"https:\/\/www.incometax.gov.in\/\">https:\/\/www.incometax.gov.in\/<\/a><\/strong><\/p>\n<p>&nbsp;<\/p>\n<h4><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-2795 aligncenter\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/104.-Sales-invoice-tds-300x251.jpg\" alt=\"\" width=\"165\" height=\"138\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/104.-Sales-invoice-tds-300x251.jpg 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/104.-Sales-invoice-tds-1024x858.jpg 1024w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/104.-Sales-invoice-tds-768x644.jpg 768w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/104.-Sales-invoice-tds-1536x1288.jpg 1536w\" sizes=\"auto, (max-width: 165px) 100vw, 165px\" \/><\/h4>\n<h4 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"For_further_details_access_our_website_https_vibrantfinservcom\"><\/span>For further details access our website <a href=\"https:\/\/vibrantfinserv.com\/\">https:\/\/vibrantfinserv.com<\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Funds Taxability from Indian parents for NRI Funds taxability from Indian parents for NRI, As per the income tax rules in India, individuals residing abroad can receive money from their parents living in India without being liable for taxes, given certain conditions are met. Under the provisions of the Income Tax Act, 1961, gifts received\u2026 <span class=\"read-more\"><a href=\"https:\/\/vibrantfinserv.com\/kb\/funds-taxability-from-indian-parents-for-nri\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":4023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[65],"tags":[47885,23339,47881,30494,23302,47903,47880,47889,23309,1306,47874,2095,3922,4221,6076,2582,3071,4024,19453,47887,30578,47904,30525,47896,23359,47911,47875,47890,23310,30925,7892,47877,2274,882,47899,40255,815,47891,47884,47882,1028,47905,47878,312,47897,47906,23790,2068,47873,47900,47888,47895,4681,4338,47908,47893,47872,47910,25844,25836,15231,47898,24105,47909,47883,47892,47902,47886,47876,1262,47901,47912,47907,47894,30530,735,21164,22262,47091,23796,23294,23789,21725,18360,22595,1438,43183,47085,10398,21092,28748,2067,21171,22286,4905,21197,243,1242,47879,524,355,23297],"class_list":["post-685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-itr-filling","tag-abroadandtaxes","tag-crossborderfinance","tag-crossborderincome","tag-crossbordertransactions","tag-expatriatefinances","tag-expatriateliving","tag-expatriatetax","tag-expatsandmoney","tag-expatsandtaxes","tag-familyfinances","tag-familysupport","tag-financialdecisions","tag-financialempowerment","tag-financialindependence","tag-financiallaws","tag-financialregulations","tag-financialresponsibility","tag-financialsecurity","tag-financialunderstanding","tag-foreignassets","tag-foreignincome","tag-foreignincomerules","tag-foreignremittance","tag-foreignsupport","tag-globalfinancetips","tag-globalfinancialrules","tag-globalincome","tag-globalliving","tag-globaltaxation","tag-globaltransactions","tag-incomedeclaration","tag-incomefromabroad","tag-incomesources","tag-incometax","tag-incometaxeducation","tag-incometaxguidance","tag-incometaxindia","tag-incometaxqueries","tag-indiandiaspora","tag-indianexpats","tag-indianincometax","tag-indianmoneymatters","tag-indianparents","tag-indiantaxlaws","tag-indiantaxqueries","tag-internationalfamilysupport","tag-internationalfinance","tag-internationalgifts","tag-internationalincome","tag-internationalsupport","tag-internationaltransfers","tag-moneyexchange","tag-moneymatters","tag-moneytransfer","tag-moneytransferlaws","tag-nonresidentincome","tag-nri","tag-nrifinancialadvice","tag-nrifinancialplanning","tag-nriinvestments","tag-nritaxation","tag-overseasearnings","tag-overseasincome","tag-overseasincomeguidelines","tag-overseassupport","tag-overseastransactions","tag-parentalassistance","tag-parentalfinancialsupport","tag-parentalsupport","tag-remittance","tag-remittanceguidance","tag-remittanceinsights","tag-remittancepolicies","tag-remittanceregulations","tag-remittancerules","tag-taxadvice","tag-taxationadvisory","tag-taxationawareness","tag-taxationclarifications","tag-taxationclarity","tag-taxationconsultation","tag-taxationdilemmas","tag-taxationeducation","tag-taxationessentials","tag-taxationfaqs","tag-taxationguidelines","tag-taxationinformation","tag-taxationinquiries","tag-taxationinsights","tag-taxationknowledge","tag-taxationqueries","tag-taxationrules","tag-taxationsolutions","tag-taxationsupport","tag-taxationupdates","tag-taxawareness","tag-taxcompliance","tag-taxexemptions","tag-taxfreeremittance","tag-taxliabilities","tag-taxplanning","tag-taxresidency"],"yoast_head":"<!-- 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