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Regarding gift

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 May 2016 SIR,
IF MY FATHER GIVE ME BY CHEQUE RS. 100000/- AS AN GIFT THAN RS.100000/- IS TAXABLE OR NOT AND I HAD INTRODUCED THE AMOUNT IN CAPITAL A/C OR NOT
SIR PLEASE HELP REGARDING THAT MATTER

THANKING YOU
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
03 May 2016 Gift from father to son, being relatives not taxable as per section 56(2)(Vii).
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Rupesh Jain

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Rupesh Jain (Expert)
03 May 2016 gift recd from relative not taxable




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