Taxation Of Gifts - Income Tax Act, 1961

FCS Deepak Pratap Singh , Last updated: 09 January 2023  
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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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Published by

FCS Deepak Pratap Singh
(Associate Vice President - Secretarial & Compliance (SBI General Insurance Co. Ltd.))
Category Income Tax   Report

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