Gift under sec 56

This query is : Open

Mayank Chawla (Querist)
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05 October 2012 Dear Friends

Suppose i have received Rs 2 crore in my marriage but half the amount received is in my bro's account and some amount in my papa's account and the remaining amount in my account.
Now i am confused that in whose return the amount of gift is exempt. Since the same amount is shown in my account as well as in my bro's and my papa's account.

Plz reply as soon as possible.
Thanks...!!!!

CA.Sourabh Sethia

CA.Sourabh Sethia (Expert)
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08 October 2012 if the gift amount is yours it should be trf to your a/c from your bro's and papa
since the same is taxable in the hands of them.

Mayank Chawla

Mayank Chawla (Querist)
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09 October 2012 but the same amount will be shown in bank accounts...
And can i take advantage of this situation, by showing some extra amount as marriage gift.

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