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
CA. B.SRINIVASULU
(Expert)
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.
VIPUL BHANDARI
(Expert)
20 March 2010
i agree with Ca B Srinivasalu, A Company cannot receive gifts.
CA Ravi Sisodia
(Expert)
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
- Query on effect of registration of property
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- Equity Share Sale and Purchase
- Additional trade name
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Number of years as per AS amortisation of Goodwill
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
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
