banner_ad

Gift in Cash

This query is : Resolved 
Profile Image

Profile Image

(Querist)
14 March 2011 Whether Gift to relative can be given in Cash?
For eg : Rs. 200000 to mother in cash. Whether eligible?
Profile Image

CA.ViVeK M ACA

Profile Image

CA.ViVeK M ACA (Expert)
14 March 2011 The objective of this provision is to bring in to tax net the bogus transaction in the name of gift from un known persons.

Any gift from non relative shall be subject to tax u/s 56 (2)

There is no restrction for Gift transaction between relative.

Gift in cash or kind can be Given to relative.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details