Gift
This query is : Resolved
Abhilash chandra
(Querist)
25 November 2010
Dear Sir ! If any person receive a sum as a gift is liable to tax ? what are the limits?
CA Sanat Pyne
(Expert)
25 November 2010
FROM NON RELATIVE , MAXIMUM 50000 IS EXEMPTED. IN EXCESS OF 50000 IS TAXABLE.
FROM RELATIVE , NOTHING TAXABLE.
FROM RELATIVE , NOTHING TAXABLE.
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Manmohan ACA, CS
(Expert)
25 November 2010
https://www.caclubindia.com/forum/gift-in-kind-104766.asp
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