Gift other then blood relation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 April 2016
Dear sir,
Mr. X has given gift Rs. 25000/- to Mr.
Y other then blood relation please clarify weather this gift will be exempt in both the person's hand Mr. x and Mr. Y
Regard
Rahul jaiswal
Mr. X has given gift Rs. 25000/- to Mr.
Y other then blood relation please clarify weather this gift will be exempt in both the person's hand Mr. x and Mr. Y
Regard
Rahul jaiswal
07 April 2016
Not taxable. Gift upto Rs 50000 is exempt even if it is received from other than relatives defined in Section 56(2)(vii)(e).
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