Gold can accept as an gift
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 November 2013
Hi All,
Pls let me know that can i accept Gold as gift from some one who is not in my blood relation
Pls let me know that can i accept Gold as gift from some one who is not in my blood relation
10 November 2013
It will be chargeable to tax under sec56(2) as its a movable property.
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CA PARAS BAFNA
(Expert)
10 November 2013
The can gift can be accepted, but in case the value of such "golden gift" from a non-relative exceeds Rs. 50000/- the entire value of the gift has to be considered as income (Income from Other Sources).
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Nikhil Kaushik
(Expert)
10 November 2013
agreed with the experts
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