I have got a money from U.S. sent my brother Rs.1,00,000, is it taxable in India again? and I have to pay tax?

My brother is already paid Income tax in U.S. on this amount

Gift needs some documentation like gift deed. If it is gift from U.S., it is needed to be proved that the sender has capacity to give such a gift and Embassy Affidavit may be needed.

It is better to treat the amount as loan (may be interest free). Show it as liability in your books if you maintain books of account. In case of scrutiny of your case you may need to prove it as loan and it is easy as your brother pays taxes in States.

yes it is taxable in india unless it is a loan refundable by you either in lump sum or in installments . start paying back monthly 500/- ok ??/

The money sent by your brother can be treated as gift. It is tax free and there is no need to pay any gift tax or any other tax on it. But from now onwards, the income you earn on that amount is taxable, if your income is taxable.

Any NRI sending gift to India: If he sends a foreign cheque, then it has to be sent only to his blood relatives. Then only it is tax free.

Any NRI can give a tax free gift to any one (not only to blood relatives) in India. But he has to issue a NRE A/c cheque which he maintains in India. Since your brother has send the amount to you, you are his blood relative, the cheque sent from US or his NRE A/c cheque dose not make any diffarence. Both of them are tax free for you.

This site will tell you about NRI gift in detail.
http://tax.indiainfo.com/nri/sending-mon...

its a gift and same rules apply as a gift money sent to you by someone in india..
needs to be your blood relative and its tax free

so enjoii