Answer plz
This query is : Resolved
Guest
Guest
(Querist)
18 November 2011
Good Morning Sir/Mam,
Can U Plz Tell Me That If We Will Give Gift To Anyone Than Will We Paid Tax. How Much Tax We Will Paid
Can U Plz Tell Me That If We Will Give Gift To Anyone Than Will We Paid Tax. How Much Tax We Will Paid
18 November 2011
Rajeev if you gift anyone otherthan relative specified in sec 2(24)..gift whether in cash or kind will be taxable in the hands of gift reciever u/s 56(2)(vii)...but will not taxable in the hands of gift giver....so as per provisions of sec 56(2)(vii) gift will be exempt in your hands(gift giver)..
Guest
Guest
(Querist)
18 November 2011
MEANS SIR I WILL NOT PAID TAX
18 November 2011
simply think rajeev you are not require to pay tax because you are not recieved anythink...you are only gift giver.....anythink gifted by you will be taxable in the hands of reciever as per provisons of sec 56(2)(vii)...if you are reciever than it will be taxable in the hands of you
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