Section 56

A gift from an NRI child to resident parents is permissible under FEMA with no cap and fully exempt in the parents' hands under Section 56(2)(x). The gift deed, stamp duty and documentation questions explained.

Blanket "fees once paid are non-refundable" policies are not the last word in Indian law. Section 56 frustration, the unconscionability doctrine and the Consumer Protection Act 2019 all bear on a participant who is medically unable to attend a paid event.