Gift received from reletives
This query is : Resolved
02 April 2010
Gift received from relatives in F.Y.10-11 is taxable or not?if taxable then upto what limit?
02 April 2010
Gift received from a relative is exempt.
No limit. For details see Sec 56(2)(vii) -- Exempted Categories
No limit. For details see Sec 56(2)(vii) -- Exempted Categories
02 April 2010
Gift Recd in cash or kind from relatives only exempted without any limit.
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