Exemption on gift given

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Rajesh Kumar (Querist)
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20 November 2008 Hi Sir,

When any gift received from someone upto 50,000 is exempted in the hand of receiver,
what about the giver, can he claim any exemption that he has gifted certain amount to somebody?
Please reply
thanks
Rajesh

Ravikumar.G

Ravikumar.G (Expert)
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20 November 2008 If a company pays gift to employees, it will come under the FBT Net and it is also claimable.

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
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20 November 2008 Donor of the gift presently not have any provision to claim deduction on account of Gift.

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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20 November 2008 No, it is treated as the apportionment of capital and is not deductible in calculating the taxable income.

Rajesh Kumar

Rajesh Kumar (Querist)
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20 November 2008 Thank a lot sir.
regards
Rajesh

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