Clubbing of income
Querist : Anonymous
Querist : Anonymous
And verify provision of section 64Generally, any gift you receive from various members of your family and specified relatives is not considered your income but a capital receipt. Thus, no income tax is payable on gifts received from relatives - and also gifts received from parties other than relatives upto a sum of Rs. 50,000 and at the time of marriage up to any amount from anybody is fully exempted and here occassion mentioned in case is marriage.
Querist : Anonymous
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