banner_ad

Marriage gift

This query is : Resolved 
Profile Image

Profile Image

(Querist)
17 May 2015 can anyone explain. My friend recently got married and received marriage gift of aggregate amount Rs.50 lakhs. Is there taxable in the hands of my friend. if not how can be accounted. if he bring this amount into his business is there any questions will arise in future from income tax authority. he need to deposit this amount into his business current account. can he deposit into bank in one short.
Profile Image

CA. SHIVA SHANKARA R. SHETTY

Profile Image

CA. SHIVA SHANKARA R. SHETTY (Expert)
18 May 2015 First, he should execute a gift deed by mentioning the details of the gift received and its value. Once, the deed registered, then it will become valid documents for gift received.

The entire gift received on the occasion of the marriage is exempted from the tax.


However, the gift amount, i think, can bring into the business :
- in case, proprietory concern, may be additional investment
- in case, partnership business, may be loan
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details