Respected sir/s,
one grand mother transferring Rs.50 lakhs to her daughter as gift from her sources, is it liable for income tax in the hands of recipient hands,
please inform me
Dear sir,
MR. A Is running proprietorship firm, audit is also being done u/s 44AB, Mr A have paid Rs. 150000 commission for selling his personal property.
Is tds u/s 194h attact? Provided commission paid on account of selling his personal property.
Thanks
Note that last Quarter we have deducted & deposited TCS@5% on SCRAP sale from only one party because party does not provided his PAN Number for the Month of Dec,2025
Now how to fill 27EQ return without PAN Number because for this above quarter as per our return only one deductee .
IS the irrevocable clause still necessary in the trust deed after the Judgment of Bombay HC in
The Chamber of Tax Consultants & Ors Vs Commissioner of Income Tax (Exemptions) & Ors -- WP (L) NO. 7587/ 2026 --- dated 09-03-2026 --- 2026:BHC-OS:6814-DB
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one grand mother is willing to transfer an amount of 50 Lakhs to her as a gift with love and affection on her grand daughter to survive herself in future, since she is no support of father, only mother is caring now,
is income tax applies on said cash gift to donee, since doner sold out her house property, out of said source she willing to transfer said amount.
please guide me in this regard.
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DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Is income tax applicable on cash gift received in the shape of bank transfer on recipient hands