Taxation of gifts by an Individual/HUF

CMA Poornima Madhava , Last updated: 15 May 2015 Share Follow on Google News

As per section 56(2)(vii) of Income Tax Act, gifts received by an individual or a hindu undivided family in the form of money or property (without consideration or with inadequate consideration) is taxable as income under the head Income from Other Sources provided such income falls under five categ

Daily Limit Reached

You have reached your daily limit of 2 Free Articles

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Broadcasts
Daily E-Newsletter
Unlimited Articles Access

BEST VALUE

2 YEAR PLAN

3,499

(Inclusive of GST)

1 YEAR PLAN

1,999

(Inclusive of GST)

Buy CCI PRO Now

Already a PRO member? Login here for an ad-free experience.

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

28190 Views 6 Likes Comment Share Income Tax Report

About the Author

CMA Poornima Madhava

CMA

I am a CMA offering consultancy services in the field of taxation including tax planning, ITR, GST compliances, accounting services etc. My YouTube channel:https://www.youtube.com/channel/UCXV-jGQjZ-TepyzHcssZj1Q/featured

View Articles

Taxation of gifts by an Individual/HUF

You have reached your daily limit of 2 Free Articles

Why Upgrade to CCI PRO?

CMA Poornima Madhava

Related Articles

Popular Articles

Trending Online Classes

Browse by Category

Latest Job Openings

AUDIT MANAGER

Article Assistants

CA Article Trainee

Accountant

Article Assistant or Paid Assistant

HEAD - AUDIT AND TAXATION

Article internship

Accounts & Taxation Executive