Gift paid
This query is : Resolved
12 October 2021
Dear Sir,
I have Query regarding Gift paid by Mother -in- low (Age 80) paid to her daughter-in-law of a Jewellery of Rs.100000/- . Both are running a Proprietor Business. How to Give Treatment in both books of account ...Is this Un Secured Loan or What...
I have Query regarding Gift paid by Mother -in- low (Age 80) paid to her daughter-in-law of a Jewellery of Rs.100000/- . Both are running a Proprietor Business. How to Give Treatment in both books of account ...Is this Un Secured Loan or What...
12 October 2021
Gift given by mother in law to DIL of jewelry is personal asset, and is tax free to the receiver.
No need to enter it in proprietorship business.
No need to enter it in proprietorship business.
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