Gift Tax
This query is : Resolved
Nilesh Vengurlekar
(Querist)
21 December 2010
What are the provisions of Gift Tax still appliable or it has got abolished at all.
If a person want to give gift of Rs. 15 lakh to son for purchase of Home.
what is implication under Income Tax & Gift Tax Act??
If a person want to give gift of Rs. 15 lakh to son for purchase of Home.
what is implication under Income Tax & Gift Tax Act??
CA Sanat Pyne
(Expert)
21 December 2010
Gift tax has been abolished now.
gift received from father will not be taxable as per income tax act.
gift received from father will not be taxable as per income tax act.
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