Gift tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 October 2012
M GIRL FRIEND OF A GIVES A GIFT OF CAR WORTH OF RS.1,58,000/- IT IS TAXABLE OR NOT PLEASE INFORM ME ABOUR THIS.
CA PARAS BAFNA
(Expert)
28 October 2012
You have not specified to whom she (M)gives a gift ???
.
If M gives gift to her boy friend A, then it is taxable in the hands of A, in spite of the fact the event is rare.
.
.
If M gives gift to her boy friend A, then it is taxable in the hands of A, in spite of the fact the event is rare.
.
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