Gift transaction UPI mode sec 56(2) applicable
This query is : Resolved
Kollipara Sundaraiah
(Querist)
29 June 2024
Sir,
Assessess cash Gift from brother rs:60,000/- and cash Gift from brother rs:40,000/- through on UPI mode dt:10-06-24
Question:
Assessess above Two gift transaction sec 56 (2) provision applicable.
Assessess cash Gift from brother rs:60,000/- and cash Gift from brother rs:40,000/- through on UPI mode dt:10-06-24
Question:
Assessess above Two gift transaction sec 56 (2) provision applicable.
29 June 2024
Yes, sec. 56(2) IT act applicable to these gifts, as from relative/s.
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