Gift received
This query is : Resolved
29 April 2013
Dear experts,
i've received a FD maturity which is deposited 16 years ago in my name by my neighbour (where iam brought up). the deposit is now matured & i received rs.50000/-
is this gift taxable?
i've received a FD maturity which is deposited 16 years ago in my name by my neighbour (where iam brought up). the deposit is now matured & i received rs.50000/-
is this gift taxable?
CA Vikas Acharya
(Expert)
29 April 2013
GIFT UPTO RS 50000 IS EXEMPT IN A FINANCIAL YEAR
BUT FOR 50001 THE WHOLE 50001 TAXABLE
BUT FOR 50001 THE WHOLE 50001 TAXABLE
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