jwellary gift
This query is : Resolved
CA Sanat Pyne
(Querist)
23 February 2009
Is there any tax provision on jwellary gift?
Please reply.
Please reply.
CA Hemant T Dewani
(Expert)
23 February 2009
gift given to any person whether he/she is relatives or not is not taxable u/s 56(2)(V)
& 56(2)(VI) only cash given as a gift is taxable if they are not relatives
& 56(2)(VI) only cash given as a gift is taxable if they are not relatives
CA.MANOJ LAMBA
(Expert)
23 February 2009
gift in kind are not taxable
07 November 2021
Update: as of now gift given of Jewelary is taxable, unless received from 'Relative'
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