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Gift on birthday

This query is : Resolved 
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(Querist)
02 February 2015 SIR,
A MINOR RECEIVED BIRTHDAY GIFT OF RS.68000/- DURING F.Y.2013-14
SIR WHAT WILL BE THE TAX TREATMENT FOR A.Y.2014-15 ?
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
02 February 2015 In this case gift received by minor will be clubbed with his that parent's income whose income is greater. as per provisions of section 64(1A).
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
02 February 2015 If the gift is received from relatives it is exempted. If not more than 50,000 is received from single person it is exempted.
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PANKAJ KUMAR SRIVASTAVA

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PANKAJ KUMAR SRIVASTAVA (Querist)
03 February 2015 SIR,
IT IS RECEIVED FROM VARIOUS PERSON INCLUDING RELATIVES
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
03 February 2015 It is exempted..........
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