Cross gift transaction taxable or exempt
This query is : Resolved
Kollipara Sundaraiah
(Querist)
23 April 2024
Sir,
it person (name .A) cash gift from sister (name ;B) rs:15 lacs through on bank mode after same date
Name :A cash gift some amount rs:5 lacs to sister (name:B) through on bank mode.
Question:
Gift received and payment transaction taxable or exempt.
it person (name .A) cash gift from sister (name ;B) rs:15 lacs through on bank mode after same date
Name :A cash gift some amount rs:5 lacs to sister (name:B) through on bank mode.
Question:
Gift received and payment transaction taxable or exempt.
CA R SEETHARAMAN
(Expert)
24 April 2024
It's exempt as it's gift from relative.
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