Gifft Tax
This query is : Resolved
Shashank Bhushan
(Querist)
10 September 2010
Gifft Tax act applicable in india or not & if it is applicable then what tax rate wil levied.
CMA Ramesh Krishnan
(Expert)
10 September 2010
Financial act 1998 had deleted gift tax act w.e.f.1.10.98. consequently, all gifts made on or after 1.10.98 are free from gift tax. Neither the donor nor the donee would have to pay any tax. Financial act 2004 has revived it partially, but it is in the form of donee-based income tax instead gift
https://www.tax4india.com/gift-tax-india/gift-tax-india.html
https://www.tax4india.com/gift-tax-india/gift-tax-india.html
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