Gift
This query is : Resolved
Kalpesh Patel
(Querist)
29 November 2010
My brother inlaw is residing in aborad. How much amount I shall accept from him, so gift tax is not attract to me. If I take more than the limit How much tax liablity arise
CA Sanat Pyne
(Expert)
29 November 2010
Gift from relative is exempt from Tax. No limit in case of Gift.
Brother or sister of the spouse of the individual falls under Relatives u/s 56(2)(vii) from whom Gift is permissible under Income Tax Act, 1961.
Brother or sister of the spouse of the individual falls under Relatives u/s 56(2)(vii) from whom Gift is permissible under Income Tax Act, 1961.
Message likes :
1 times
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
