Gift to son or brother
This query is : Resolved
12 January 2014
Dear sir / madam
kindly advise is there any limit on gift ??
any tax needs to pay on gift ??
regards
patel
kindly advise is there any limit on gift ??
any tax needs to pay on gift ??
regards
patel
12 January 2014
no limit for transfers within family...refer section 56 of the Income tax act 1961.
Message likes :
1 times
25 January 2014
there is no limit in case of tranfer or gift to relatives under section 56(2).
Message likes :
1 times
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