Agricultural land

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
23 July 2012 An assesse's mother sold a agricultural land for cash & had received & deposited such money in installments in her bank account. Now, she wants to gift such cash sale proceeds of agricultural land to her son (assesse) for which she ready to undersign a gift deed. So, my question is CAN SUCH GIFT BE ACCEPTED & SUCH SUM OF Rs. 30,00,000/- approx. be transfered from assesse's mother's bank account.

Profile Image

Guest

Profile Image

Guest (Expert)
23 July 2012 yes she can make cash gift to his son without any restiction

24 July 2012 Yes of course she can without any restrictions.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
24 July 2012 but can she take gift such a huge amount & what will be documents required to be maintained by the assessee for proving the genuiness of such transaction. Also, is it requiredby the assessee to prove the genuiness of the gift donor .i.e. his mother??

08 October 2021 Yes, the source of the capital can be questioned at any time...


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro

Follow us
add to google news


Answer Query



Company
ARTICLESHIP 16 July 2026
Article Assistant

Sahil Agarwal & Company

Mumbai

CA Inter

View Details
Company
Featured 18 July 2026
CA Articleship

apricus india

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 15 July 2026
CA Articles

Kinjal H Shah & Co.

Mumbai

CA Foundation

View Details
Company
Featured 18 July 2026
Senior Manager- Finance & Accounts

apricus india

Ahmedabad

CA

View Details
Company
14 July 2026
Senior Executive/ Manager

H S SHARMA AND CO

Pune

CA Final

View Details
Company
ARTICLESHIP 08 July 2026
Article internship

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details
Company
23 July 2026
Senior Accountant

Felicity Adobe LLP

Bengaluru

CA Inter

View Details