Gift transaction taxable or exempted
This query is : Resolved
13 July 2022
Sir,
A person (brother) immovable property gift received from another person (sister). after another date some amount pay brother cash gift to sister.
Question:
Above mentioned gift transaction taxable or exempted in it act.
A person (brother) immovable property gift received from another person (sister). after another date some amount pay brother cash gift to sister.
Question:
Above mentioned gift transaction taxable or exempted in it act.
14 July 2022
When considered as two different gifts, both are exempt as per sec. 56(2) of IT act.
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