Income tax on the Gifts

hello, I wanted to understand how the gifts are taxed. I helped a friend save good amount of money overseas by giving the advice on the technology side and now he wants to return the favour and send some money as a gift. I am not sure how it will be taxed and where do I have to declare it. Any advice would be much appreciated. Best

Hi,
We can confirm that there are no Income Tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends.
These would then potentially be subject to tax.
Thank you.