Gift Tax
This query is : Resolved
Sujal Patel
(Querist)
07 December 2010
Is any tax applicable if i receive a gift amount of Rs 45,000 from my NRI friend, from his NRO account held with Indian bank. Also this will be my only gift from anybody through out the financial year. Thanks in advance!
Ajay Mishra
(Expert)
07 December 2010
Hi
If the amount in cash exceed Rs. 50000 then it will be taxable.
If the amount in cash exceed Rs. 50000 then it will be taxable.
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
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Missed uploading GST Invoice
- Movement of goods by packers and movers - type of sale - Reg.
- ARCA LOGIN
- Appointment of Auditor By Form ADT-1
- TDS Return Statement Status
- Closer of business and itc of capital goods
- Gratuity paid to legal heir above 20 lakh is taxable or not
- 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
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
