Section 56(2)(vii): Gifts Received by Individual and HUF

| Last updated: 02 September 2016

Analysis of TAXATION OF GIFTS !! Crux: Section 56(2)(vii): Gifts Received by Individual and HUF 1.This section is applicable only when gifts are received by individual and HUF. As per the Income Tax Act, receiver of gifts is taxed. Donor is not taxed under this section. 2. Gifts can be in c
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CA Rohan jain

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Hello Friends, I am a Practicing Chartered Accountant qualified in november 2015.

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