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Gift

This query is : Resolved 
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(Querist)
10 November 2014 can one person can give gift to other which he received as gift earlier in same financial year?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
10 November 2014 yes he/she can. there is no restriction on it...
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priya agarwal

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priya agarwal (Querist)
10 November 2014 but ITo is Saying it is fund transfering
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
10 November 2014 ITO can say what he has to. there is no section in the act which can disallow genuine gifts.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
10 November 2014 as long as you are able to show the source of the gift and it is properly documented, there is little he can do.
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