Income Tax or any regulatory implications of getting free journey tickets from friend settled overseas?



My friend wishes to travel on excursion (tourist visa) to U.S.A. Another friend, who is inviting him, has agreed to pay for and send the air tickets from U.S.A. itself for the journey to and from U.S.A.

Will this free ticket attract any income tax and does it have to be informed in the Income Tax Return ? Or, does it have any other foreign exchange regulation implication ? Kindly advise.

Income Tax or any regulatory implications of getting free journey tickets from friend settled overseas?
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One Reply to “Income Tax or any regulatory implications of getting free journey tickets from friend settled overseas?”

  1. There is no implication under the Income tax Act and the income tax return also not require furnishing of any such information. However, necessary evidence regarding financing of the tour should be retained. Such evidence may have to be produced in case of scrutiny of the case by the Income tax department.





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