Gift
This query is : Resolved
19 February 2010
This family friend of ours is planning to gift us Rs.100,000.
He is planning to do this via a bank transfer into my mothers account. He has no blood relation with my mother. Will this income be taxable?
can this be shown as a loan? or a gift?
or is it better to just take the money in cash?
thanks in advance for the help!
He is planning to do this via a bank transfer into my mothers account. He has no blood relation with my mother. Will this income be taxable?
can this be shown as a loan? or a gift?
or is it better to just take the money in cash?
thanks in advance for the help!
20 February 2010
it will be taxable in hand of mother
26 February 2010
it will be taxable in hand of mother in case of gift
26 February 2010
Agreed
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
