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Can an NRI gift the units of MFs to resident Indians?

April 26, 2017gift indians mfs NRI resident units

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Can an NRI gift the units of MFs to resident Indians?

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An NRI may gift the units to any investor Indian or an NRI. Units gifted by any person would not be liable to any gift tax since the units held under the schemes are also not subject to provisions on the Gift Tax act, 1958.