Cash gift
This query is : Resolved
09 June 2014
my client received a gift from son every month through western union. my client don't prefer to receive the same from western union in cheque even western union ready to pay cheque for more than 50000. can we account for gift in cash received from western union or accept in cheque only . gift in cash from western union is taxable or not
09 June 2014
cash or cheque, doesnt matter. it is not taxable in any case.
10 June 2014
exempted under sec 56(2) so relax...........
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