Gift
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 January 2011
Can a person gift Rs. 25000/- as Gift by Cheque to his mother in FY 2010 -11? is it taxable in whose hands?
06 January 2011
This gift will be exempt from tax.
It will not be taxable in the hands of recepient.
It will not be taxable in the hands of recepient.
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 January 2011
Thanks for the reply. My One more query is that is it taxable in Gifter's Hand or it is non taxable in his hands also?
Can AO can Query for reasons of the same?
Can AO can Query for reasons of the same?
11 January 2011
Not taxable in anyones hand.
Just make gift deed in case any query is raised.
Just make gift deed in case any query is raised.
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