Gift Received
This query is : Resolved
28 September 2008
Hello Everyone
can anyone tell me that where is gift received in blood relatinship is shown in ITR-4. Is there any tax exemption on it.
Thanks
Saurabh
can anyone tell me that where is gift received in blood relatinship is shown in ITR-4. Is there any tax exemption on it.
Thanks
Saurabh
28 September 2008
yes ,it is exempt ,if gift is received from the relatives mentioned in explanation to sec 56(2).
29 September 2008
Get it from the following URL:
https://www.caclubindia.com/articles/article_list_detail.asp?article_id=285
https://www.caclubindia.com/articles/article_list_detail.asp?article_id=267
https://www.caclubindia.com/articles/article_list_detail.asp?article_id=285
https://www.caclubindia.com/articles/article_list_detail.asp?article_id=267
29 September 2008
Spouse of the individual;
Brother or sister of the individual;
Brother or sister of the spouse of the individual;
Brother or sister of either of the parents of the individual;
Any lineal ascendant or descendant of the individual;
Any lineal ascendant or descendant of the spouse of the individual; and
Spouse of the person referred to in clauses (ii) to (vi).
Brother or sister of the individual;
Brother or sister of the spouse of the individual;
Brother or sister of either of the parents of the individual;
Any lineal ascendant or descendant of the individual;
Any lineal ascendant or descendant of the spouse of the individual; and
Spouse of the person referred to in clauses (ii) to (vi).
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