Gift
This query is : Resolved
04 January 2012
i got gift from my brother amount Rs.2,50,000 but he has less income for assesment year in which gift is given he has capital more than 5,00,000 than admisabal examption of gift is admisabal in other source
if yas than case law is require
if yas than case law is require
05 January 2012
Generally if a gift is made which is less than 50% of the capital, it is not questioned.
However, lower income might call for some Q&A by the A.O. You would just need to justify the genuinity of your case.
However, lower income might call for some Q&A by the A.O. You would just need to justify the genuinity of your case.
05 January 2012
the case is genuine but i need some case laws on same. so sir can u pls gv me some case laws on it?
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