Gifts
This query is : Resolved
14 December 2009
Dear Sir,
If i receive any Gifts both movable and immovable from my relative......How much tax I have to pay.....
If i receive any Gifts both movable and immovable from my relative......How much tax I have to pay.....
14 December 2009
For the purpose of meaning of relative you should refer Explanation to clause (vi) of sub-section (2) of Section 56.
If you receive gifts of movable and immovable properties from these relatives; then these are exempt from tax.
If you receive gifts of movable and immovable properties from these relatives; then these are exempt from tax.
14 December 2009
gifts received from relatives if fully exempted from any mode.
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