Gift on birthday
This query is : Resolved
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 ?
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 ?
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).
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.
03 February 2015
SIR,
IT IS RECEIVED FROM VARIOUS PERSON INCLUDING RELATIVES
IT IS RECEIVED FROM VARIOUS PERSON INCLUDING RELATIVES
03 February 2015
It is exempted..........
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