GIFT FROM FATHERIN-LAW
This query is : Resolved
13 July 2009
DEAR SIR/MADAM
SON BOOKING FLAT RS, 15,00,000/- BUT HE WAS PAID ONLY 250000/- REMAINING 1250000 PAID BY FATHER AND FLAT REGISTERED HUSBAND AND WIFE 1/2 SO DAUGHTER IN -LAW WRITE IN HER BOOKS OF A/C
FLAT A/C DR 75000
TO GIFT FORM FATHER IN LAW 750000
IS IT CORRECT OR NOT AND ITS ALLOWABLE GIFT RECEIVED FROM FATHER IN-LAW, PLEASE TELL
THANKS IN ADVANCE
SON BOOKING FLAT RS, 15,00,000/- BUT HE WAS PAID ONLY 250000/- REMAINING 1250000 PAID BY FATHER AND FLAT REGISTERED HUSBAND AND WIFE 1/2 SO DAUGHTER IN -LAW WRITE IN HER BOOKS OF A/C
FLAT A/C DR 75000
TO GIFT FORM FATHER IN LAW 750000
IS IT CORRECT OR NOT AND ITS ALLOWABLE GIFT RECEIVED FROM FATHER IN-LAW, PLEASE TELL
THANKS IN ADVANCE
Abhishek Mohta
(Expert)
16 July 2009
Yes the treatment is correct.
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