Gift
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 February 2013
When a father HAS GIVEN THE GIFT IN FORM OF DEPOSTING CHEQUE BY WAY OF RS MORE THAN RS 1 L IN CHEQUE , IS CLUBBING PROVISION APPLICABLE?
HOW INCOME TAX IS TRATING THIS GIFT ?
TO WHOM taxability is applicable?
I have made gift deed on stamp paper with witness.
Pl suggest the recommendation.
HOW INCOME TAX IS TRATING THIS GIFT ?
TO WHOM taxability is applicable?
I have made gift deed on stamp paper with witness.
Pl suggest the recommendation.
10 February 2013
It is not important to know us whether the query is being posted by a Father or a Son...as Its known to all that the Father is ultimately a son and the son will become father on a good day or might have become.
.
There will be no taxability in anybody's hands as far as amount of Gift is concerned. However, if the Son is a minor, income arising to the son will be clubbed in the hands of father till the son attains the Age of 18.
.
.
There will be no taxability in anybody's hands as far as amount of Gift is concerned. However, if the Son is a minor, income arising to the son will be clubbed in the hands of father till the son attains the Age of 18.
.
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
- Section 270A penalty
- GST- DRC 03 RCM Liability
- Query on managerial remuneration u/s 197 of CA 2013
- Validity of form 15 G and 15 H on Interest on fixed deposit
- GSTR 1- Amend Credit Note
- Threshold limit of under GST for insurance agent
- Supply to unit situated in SEZ
- Tax liability on gift amount given to blood relation
- Additional income for updated return
- International transfer pricing- -> father entity vs son entity ->WHERE NO mutual say in management
- Problem in filing Returns for International workers in EPFO
- Clarification for reversal of IGST on transfer of duty-free imported goods from EOU to DTA unit
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
Trending Online Classes
-
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)
Industry Expert16 November 2025
CAclubindia
