Gift
This query is : Resolved
02 September 2013
1 father has given 10 lacs to his son through online transfer.
2 son has transferred 10 lacs to father through online transfer
what will be taxability?
2 son has transferred 10 lacs to father through online transfer
what will be taxability?
02 September 2013
No taxabilty Gift to relative is exempt from Tax.
02 September 2013
Gift from relatives are exempt
02 September 2013
As per explaination to sec 56(2) gift received from relatives is not taxable.
VISWANIVAS
(Expert)
02 September 2013
Father to son and son to mother makes some sense.
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