Gifts - Taxable or Non Taxable

Ravikumar.G , Last updated: 10 August 2020  
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Applicability : Individual and HUF Taxability: Any sum of money,aggregate value of which exceeds Rs.50,000 /- is received during the previous year without consideration, by an Individual or a HUF from any persons on or after 01.04.06 then the whole of the aggregate of such sum will be taxable.

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Ravikumar.G
(Consultant)
Category Income Tax   Report

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