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Cash gift given-whether allowed??

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Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2012 cash is given as gift amounted to Rs. 248000/- whether it is to be disallowed??? if yes-under what provision. such gift was given to individual by the other individual who is the relative of that other individual...

CA Hardik Bunha

CA Hardik Bunha (Expert)
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26 November 2012 it is a income from other source but exempt from tax u/s 56(2)(i)

Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2012 what is the treatment in the books of accounts of the person who has given such gift...as it is given in cash??

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 August 2023

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