Gift regarding question
This query is : Open
24 January 2018
THE "A" ASSESSEE HAVING TWO SON VIZ "B" AND "C"
THE "B" IS STEB CHILD OF "A"
THE "C"IS ADAPTED CHILD OF "A"
"B" AND "C" RECEIVED GIFT OF RS.1 LAC IS FROM THEIR FATHER "A"
THE QUESTION IS TAX ABILITY OF GIFT RECEIVED BY "B" AND "C"FROM THEIR FATHER "A"
THE WORD BLOOD RELATION WILL APPLICABLE TO THE SONS OR NOT
THE "B" IS STEB CHILD OF "A"
THE "C"IS ADAPTED CHILD OF "A"
"B" AND "C" RECEIVED GIFT OF RS.1 LAC IS FROM THEIR FATHER "A"
THE QUESTION IS TAX ABILITY OF GIFT RECEIVED BY "B" AND "C"FROM THEIR FATHER "A"
THE WORD BLOOD RELATION WILL APPLICABLE TO THE SONS OR NOT
25 January 2018
please read the article...
https://taxguru.in/income-tax/detailed-analysis-gifts-taxation-income-tax-act-1961.html
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