POSTED BY November 23, 2010 12:46 pm COMMENTS (2)ON
I have given Rs. 30,000 /- gift to my real brother this FY thru bank transfer.
Is it tax emepted (i.e. tax free ) for both of us acc. to gift tax law in India for FY 2010 ?
What formality I need to do, if any, to make it tax free for both of us ? such as gift certificate etc…