Section 56(2)(X): Taxation of Gift

Sahil Dhingra , Last updated: 26 April 2023  
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INTRODUCTION Gift received by any person or persons are taxed in the hands of the recipient under the head Income from other sources and at normal tax rates. The provisions relating to gift tax have been dealt with under Section 56(2)(x) of the Income-tax Act, 1961. APPLICABILITY The Provis

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Sahil Dhingra
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