SUPPOSE I GIVE 70000 GIFT TO MY FRIEND THEN IN THAT CASE ALL THE 70000 WOULD BE TAXABLE OR 20000 WOULD BE TAXABLE AND WHOSE HAND OF GIVER OR TAKER
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Regarding gift to non relative
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The reciver will be taxed as given witout any considerartion and full 70,000
FULL 70000 WILL BE TAXABLE IN THE HANDS OF RECEIVER
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