rate of gift tax
This query is : Resolved
07 December 2012
Dear sir,
whether or not chargeable to tax in this case, an individual received money from the relatives without consideration for the amount of 22 laksh then what is tax for the same and what is rate of tax for the same?
Dear sir,
whether or not chargeable to tax in this case, an individual received money from the relatives without consideration for the amount of 22 laksh then what is tax for the same and what is rate of tax for the same?
CA PARAS BAFNA
(Expert)
07 December 2012
If the source of money can be explained by the so called relatives of the assessee, no tax is leviable on the gifts received from relatives.
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