gift tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 March 2010
dear friends,
my question is that if a private company receives Kishan Vikash Patra(KVP) as gift from person other than directors and shareholders before 1.10.2009 what will be its impact on the taxation of the company. whether it will be exempt or taxable in the hands of company?
with regard
my question is that if a private company receives Kishan Vikash Patra(KVP) as gift from person other than directors and shareholders before 1.10.2009 what will be its impact on the taxation of the company. whether it will be exempt or taxable in the hands of company?
with regard
20 March 2010
A private company cannot receive gift. If you have got it without consideration it will become your other income for that year.
20 March 2010
i agree with Ca B Srinivasalu, A Company cannot receive gifts.
20 March 2010
Agree with experts.
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Under construction property in ITR
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Not able to file ITR
- Building tax payment deduction in rental Income
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
