Gift
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 February 2014
gift revived from My mom's dad is taxable or not as per section 56..???????
19 February 2014
Gifts received frm relatives r exempted from Tax. and mother & father comes in list of relatives
Message likes :
1 times
19 February 2014
yes exempted as per explaination to sec 56(1).
19 February 2014
Relative for the purpose of Section 56(2)(vii) includes any lineal ascendant or descendant of the individual.
Lineal ascendant will include mother's father.
Accordingly gift from mother's father will not be taxable.
Lineal ascendant will include mother's father.
Accordingly gift from mother's father will not be taxable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Nomination of Bank for refund in itr 2
- Rent lease agreement
- TDS Challan Code
- Refund of 20%pre-deposit paid for stay application
- Relief u/s Section 89
- REGARDING SECTION 44AE
- Entries in AIS regarding sale of units and shares
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
