Taxability Of Gift Received By Individual Or HUF

CA Rahul Mittal , Last updated: 16 January 2021 Share Follow on Google News

The common man is confused about what tax will be levied on taking gifts or whether there will be any tax applicability on giving gifts. In this article, we will discuss about tax applicability on gifts received by individual and HUF and try to remove confusion. Section 56(2) (x) deals with gifts

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About the Author

CA Rahul Mittal

Rahul Mittal is a Founder of R A M M Co LLP, Chartered Accountants. He is a graduate and a fellow member of the Institute of Chartered Accountants of India with 9+years of standing in the profession. He has completed the Diploma in Information System Audit (DISA) from ICAI. He has also completed the certification cour ... Read more

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Taxability Of Gift Received By Individual Or HUF

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