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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Booth for sales promotion
- Regarding ITR filing with more value than showing in AIS/TIS
- LIABILITY ADJUSTMENT
- IT returns for fresh job holders
- Housing Society-ITR5
- NRI INSURANCE ADVISOR
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
