I.t.query for net income is low and gift value high
This query is : Resolved
03 January 2021
Sir,
A I.t. Assess net taxable income is low(below 5lacs.)but assess cash gift to son amount Rs:10 lacs through on bank mode show in f.y 19-20.
Question:
Assess net taxable income is low and gift value amount high allowed in I.t act.
A I.t. Assess net taxable income is low(below 5lacs.)but assess cash gift to son amount Rs:10 lacs through on bank mode show in f.y 19-20.
Question:
Assess net taxable income is low and gift value amount high allowed in I.t act.
04 January 2021
Such gift possible in view of accumulated savings in bank account.
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