Exemption on gift given
This query is : Resolved
Rajesh Kumar
(Querist)
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
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
(Expert)
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
(Expert)
20 November 2008
Donor of the gift presently not have any provision to claim deduction on account of Gift.
20 November 2008
No, it is treated as the apportionment of capital and is not deductible in calculating the taxable income.
Rajesh Kumar
(Querist)
20 November 2008
Thank a lot sir.
regards
Rajesh
regards
Rajesh
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