I’m receiving one crore rupee gift from my cousin sister — my father’s biological brothers daughter. My question is how much tax will I have to pay to Indian authorities. I’m USA citizen and OCI of India . Thanks in advance
My father’s cousin brother wants to give me some property and cash under inheritance as he has no child so I want to know that is there any tax implication in my hands? And is there necessary that a separate deed is made for every Gift received?