Gift paid limit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 March 2015
Dear expert
the gift limit is 50000/- other than in blood relation. but if i paid 50000, 50000, to difference person can this total 100000/- may be exempt in income tax
the gift limit is 50000/- other than in blood relation. but if i paid 50000, 50000, to difference person can this total 100000/- may be exempt in income tax
12 March 2015
no, as in aggregate to non relatives for 1 fy the limit is Rs.50,000 so in this case only 1st 50,000 non taxable and any other amount above is taxable as income from other sources.
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