ITAT Mumbai Rules Rs 20 Lakh Gift from UAE Brother Exempt from Tax

Sachin , Last updated: 21 August 2024 Share Follow on Google News

1. Significant Ruling by ITAT Mumbai Bench The Income-Tax Appellate Tribunal (ITAT) Mumbai bench ruled that a gift of Rs 20 lakh received by a taxpayer from his non-resident brother in the UAE is not taxable. 2. Exemption of Certain Gifts Indian tax laws exempt certain gifts from taxation, part

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About the Author

Sachin

Finance Manager

Im passionate about accounts and enjoy playing music on the keyboard. When Im not working, youll find me exploring new melodies or diving into the intricacies of Excel. I love solving complex spreadsheets, and Im always up for a challenge that combines creativity with precision.

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