Taxation Of Gifts - Income Tax Act, 1961

FCS Deepak Pratap Singh | Last updated: 09 January 2023

As you are aware that if a person receives any Cash or property without consideration ( as a gift) then same will be taxable in the hand of persons receiving the gift under head Income from other sources, in the same year in which he receives gift. Taxability of gift received by any person, i.e.,

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About the Author

FCS Deepak Pratap Singh

Associate Vice President - Secretarial & Compliance (SBI General Insurance Co. Ltd.)

Dear Friends, MyselfFCSDeepak P. Singh ( B.Sc.. LLB, FCS. FIII, CIAFP, CRMP, ID) , A Fellow Member of ICSI, Law Graduate ,Fellow Member of Insurance Institute of India, Certified Independent Director ,Certified Insurance Anti Fraud Professional , Certified Risk Governance Professional ( ICSI-III) and cleared Limited I ... Read more

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