Gift amount query.
This query is : Open
29 March 2014
Good evening to all,
Here is a query regarding the gift amount received by relatives :
Q.1 : what is the maximum amount of gift can father can gift to his / her son daughter? weather the amount of gift received by his son/daughter is taxable for them or not?
Q.2 : If my Father, mother ,grand mother, elder brother , younger sister(married/unmarried)wants to gift Rs. 100000/ each to me. Weather I am eligible to receive the gift from them & upto what maximum limit? Weather this gift income is taxable for me or not?
Kindly please resolve the query at the earliest for which I will be vary thankful.
Regards
Rishabh Agrwal.
Here is a query regarding the gift amount received by relatives :
Q.1 : what is the maximum amount of gift can father can gift to his / her son daughter? weather the amount of gift received by his son/daughter is taxable for them or not?
Q.2 : If my Father, mother ,grand mother, elder brother , younger sister(married/unmarried)wants to gift Rs. 100000/ each to me. Weather I am eligible to receive the gift from them & upto what maximum limit? Weather this gift income is taxable for me or not?
Kindly please resolve the query at the earliest for which I will be vary thankful.
Regards
Rishabh Agrwal.
29 March 2014
Gift from relative is exempt for the purview of tax. Also there is no limit for this. Thus none of the above gift is taxable.
Message likes :
1 times
29 March 2014
In reference of the above query there is one more doubt, that if my father wants to give Rs. 10 lacs to me weather this amount is taxable to me or not?
Regards
Rishabh
Regards
Rishabh
29 March 2014
In reference of the above query there is one more doubt, that if my father wants to give Rs. 10 lacs to me weather this amount is taxable to me or not?
Regards
Rishabh
Regards
Rishabh
30 March 2014
Rishabh,
already answered by harsha that there is no limit
already answered by harsha that there is no limit
Message likes :
1 times
18 May 2016
Query regarding ancestral property:
does father has right to sell ancestral property with out consent of her alone married daughter.
if father sell his property to any one without her alone daughter consent, can daughter has right to claim the same property.
kindly please resolve the query.
does father has right to sell ancestral property with out consent of her alone married daughter.
if father sell his property to any one without her alone daughter consent, can daughter has right to claim the same property.
kindly please resolve the query.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
