Cash gift
This query is : Resolved
26 April 2014
Hello Memebers my quires is that I iwsh to obtained Cash as a gift From my mother. whats are the formalites or getting cash gift is taxable or not if yes then in which section and what would be its accountability and whats are the legal formalites for preparing Gift Documents .
What would be the Declaration in what amount of Stamp paper, help me in this regards
What would be the Declaration in what amount of Stamp paper, help me in this regards
26 April 2014
Gifts given to relatives are exempt from tax. Hence you can get gift any amount from your mother because as per explanation given in section 56 of the I-T act relative includes any lineal ascendant or descendant of the assessee. As son is the lineal descendant the gift given by mother so your tax will be fully exempt from tax.
on stamp paper of Rs. 100 gift deed cab be drafted.
you will get format on the net for the same.
on stamp paper of Rs. 100 gift deed cab be drafted.
you will get format on the net for the same.
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
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Bank Accounts in Balance Sheet for ITR 3
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
