Amount received as a Gift
This query is : Resolved
26 February 2009
An assessee is a Resident Indian received USD 2000 as a gift from Hongkong and amount credited in his account Rs.84500 (USD 2000) in Assessment Year 2008-09. Whether consideration as a taxable income or not.
26 February 2009
if it is received from non relative, it is taxable in hands of assessee.
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