Tax Gift Service
1 year ago
Hello, I have a chase manhattan Bank. I need to send money to my parents as a gift. I pay US taxes in New York every year. If i send them check of 900,000 as a gift. Will they occur any taxes. Its for helping them fix their home
A.Dear Sir,
Normally, all gifts will carry tax. For details of tax payment and rate of tax payment you have to seek advise from chartered accountant.
Normally, all gifts will carry tax. For details of tax payment and rate of tax payment you have to seek advise from chartered accountant.
Helpful
Helpful
Share
A.Dear Client,
It is advisable to contact the number on the website to know further in this regard. Thank you.
It is advisable to contact the number on the website to know further in this regard. Thank you.
Helpful
Helpful
Share
Read Related Answers
Construction of new mechanic shop in residential area
Dear Client,
In case of a commercial activity in a residential area, you along with the other residents can file a mass complaint to the Municipal Corporation and prevent the construction of a mechani...
Money recovery
Dear Client,
In the absence of any documentary evidence supporting your claim against the person to whom you transferred the money digitally, recovery of said money is not feasible even through litiga...
Pg owner
Dear Client,
Owner of the PG is imposing restrictions without proper legal basis. Since there's no formal agreement signed by you detailing any rules or regulations, the owner's demands may not hol...
Transfer of Property to the partnership firm through Will
Dear Client
If the assets or properties of your father are self acquired property then as per the law he can dispose/transfer the property to anyone he wishes to in any of of the mode. He can will it,...
Cycle repairing shopkeeper didn't give bill receipts after replacing tyre
Dear Client,
You can escalate your grievance against the shopkeeper before the concerned mediation cell of the Consumer Affairs Deptt. formed by the State Govt to redress the grievances of the consume...
Read Blogs on Commercial
Commercial Lawyers
Find Lawyers by Location