Gift received
This query is : Resolved
sushil kumar singh
(Querist)
28 May 2014
dear sir ,
if X are employee in Y pvt ltd and z is a foreign client of Y pvt ltd but at the dewali time, z give 48000/- to X.
this income of X come icome n other soureceincome or salry income.
please reply sir
if X are employee in Y pvt ltd and z is a foreign client of Y pvt ltd but at the dewali time, z give 48000/- to X.
this income of X come icome n other soureceincome or salry income.
please reply sir
Nikhil Kaushik
(Expert)
28 May 2014
if during the year, gifts received from non-relatives is not more than Rs 50000, it is not taxable anywhere.
however, if X also received (from non-relatives) some other gifts resulting in total gifts exceeding Rs 50000, it would be taxed under "other sources"
however, if X also received (from non-relatives) some other gifts resulting in total gifts exceeding Rs 50000, it would be taxed under "other sources"
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