Doubt for income tax
This query is : Resolved
Kollipara Sundaraiah
(Querist)
23 April 2023
Sir,
Q.no.1 A doctor professional and selling medicines income f.y.22-23.doubt: professional income limit rs:50 or 75 lacs for f.y.22-23
Q.no.2
Assessess Cash gift from brother rs:5 lacs same date cash gift to brother rs:3 lacs through on bank mode pay.doubt: assessess gift transaction allowed in it act.
Q.no.1 A doctor professional and selling medicines income f.y.22-23.doubt: professional income limit rs:50 or 75 lacs for f.y.22-23
Q.no.2
Assessess Cash gift from brother rs:5 lacs same date cash gift to brother rs:3 lacs through on bank mode pay.doubt: assessess gift transaction allowed in it act.
23 April 2023
1. For FY 2022-23, limit u/s. 44AB for audit & u/s. 44ADA presumptive assessment the limit remains Rs. 50 lakhs.
2. Allowed only if the gifts are transferred through any banking mode.
2. Allowed only if the gifts are transferred through any banking mode.
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