Gift received
This query is : Resolved
23 May 2014
Sir,
Gift Received from Father in Law (Wife's father) Rs.250000/- is taxable or not.
Gift Received from Father in Law (Wife's father) covered under relative defination or not?
IF it is considered as gift from relatives then gift deed is required to make or not?
Please inform.
Gift Received from Father in Law (Wife's father) Rs.250000/- is taxable or not.
Gift Received from Father in Law (Wife's father) covered under relative defination or not?
IF it is considered as gift from relatives then gift deed is required to make or not?
Please inform.
23 May 2014
Gift received from father in law in cash is not taxable as its covered under definition of relative.
Its better to draft written gift deed in order to avoid future disputes / litigation with Income Tax Authorities.
Its better to draft written gift deed in order to avoid future disputes / litigation with Income Tax Authorities.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Grand in aid
- Accounting with Claude
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
