Cash gift
This query is : Resolved
20 September 2012
Dear Sir,
Suppose an individual received Rs. 250000/- in cash from his father, and for that event they draft a gift deed on plain paper.
Whether AO will accept this transaction as a gift.
Please advise me.
Suppose an individual received Rs. 250000/- in cash from his father, and for that event they draft a gift deed on plain paper.
Whether AO will accept this transaction as a gift.
Please advise me.
20 September 2012
yes AO should accept
20 September 2012
gift by father, mother, and closed blood relatives will be acceptable
in your case the ASSESSSING OFFICER SHOULD ACCEPT THE GIFT by your father.
in your case the ASSESSSING OFFICER SHOULD ACCEPT THE GIFT by your father.
20 September 2012
Yes Gift deed can be drafted on Plain Paper if its from close Relatives
20 September 2012
yes if it a genuine transaction, Onus to prove the non genuine tr. is on Revenue.
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
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR 2 Short Term gain & Long term gain
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Itr 1 processing
- 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
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
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
