Gift tax

01 September 2017

Can sisters son give gift to his uncle (Mama)?

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6 Replies

cadeepak soni (chartered accountant) (14 Points)
Replied 01 September 2017

yes and there is no tax liability

Bharatheesh T Nayak (52 Points)
Replied 01 September 2017

Upto Rs 50,000/- is exempted. If gift received exceed Rs 50,000/- then it is taxable.

devendar reddy yedulla (8 Points)
Replied 02 September 2017

50,000 is the eligibility limit.
If it exceeds Rs 50,000/- then the whole amount is taxable.

Namrata Desarda (7 Points)
Replied 02 September 2017

Thanks sir for ur precious suggestion

Namrata Desarda (7 Points)
Replied 03 September 2017

what is rate of gift tax now.

Namrata Desarda (7 Points)
Replied 03 September 2017

what is rate of gift tax now.

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