GIFT value sec 56 2(x) covered in it act
This query is : Resolved
28 February 2022
Sir,
It assessee (name Mr.A) motor car gift from friend received value rs:15 lacs.
Question:
Mr.A Gift movable property value rs:15 lacs provision sec 56 2(x) covered in it act.
It assessee (name Mr.A) motor car gift from friend received value rs:15 lacs.
Question:
Mr.A Gift movable property value rs:15 lacs provision sec 56 2(x) covered in it act.
01 March 2022
Motor car, being not covered under assets; when gifted, is not liable for tax .
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Cgst asmt - 10
- CAN a GSTIN registered under rule 14A opt for composition scheme without withdrawal from rule 14A ??
- E-Invoice applicability related question
- Reduce fine on my company
- Delisted shares
- PTEC-payment
- Journal entry of TDS operative a/c dr (under withdrawal side of bank a/c)
- REFUND OF TDS CLAIM
- Employee claim Expnese Invoices
- Rejection of the application for the registration of a society in Andhra Pradesh state
- RELATED TO ITR OF POLITICAL PARTY
- Fy 22-23 --> tyed more in gst 3b vs 2b, any interest?
- INCOME TAX QUERY FY25-26()\
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- GST ON PERSONAL MOTORCAR SOLD
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- B2B Amendment
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
