Gift tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 June 2012
MY FRIEND RECEIVED GIFT OF RS 40L FROM NRI BROTHER.FROM THIS CAN HE GIVE 25L TO HIS BROTHER IN LAW(WIFE'S BROTHER)AS A GIFT?
17 June 2012
1. Gift of Rs. 40 lakhs is exempt in the hands of the recipient. Further, there is no tax implication in the hands of the donor.
2. Your friend can give gift to the his brother-in-law. There is no tax implication in the hands of your friend.
Further, such gift is exempt in the hands of his brother-in-law.
2. Your friend can give gift to the his brother-in-law. There is no tax implication in the hands of your friend.
Further, such gift is exempt in the hands of his brother-in-law.
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
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
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
