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Gift

This query is : Resolved 
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(Querist)
25 November 2010 Dear Sir ! If any person receive a sum as a gift is liable to tax ? what are the limits?
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
25 November 2010 FROM NON RELATIVE , MAXIMUM 50000 IS EXEMPTED. IN EXCESS OF 50000 IS TAXABLE.

FROM RELATIVE , NOTHING TAXABLE.
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Manmohan ACA, CS

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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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