Provision for Gift Income For domestic & NRI GIft
This query is : Resolved
14 August 2008
Please provide the guidelines for the main points are :-
Exemption limit
Taxable Limit
Exemption limit
Taxable Limit
CA Hemant T Dewani
(Expert)
14 August 2008
any gift received received from relatives are exempt from tax u/s 56(2)(VI)& receive from others are exempt rs 50000/- & inexcess of rs 50000/-the whole amount is taxable
Dhirajlal Rambhia
(Expert)
07 November 2021
https://incometaxindia.gov.in/Pages/faqs.aspx?k=FAQs+on+Gifts+received+by+an+individual+or+HUF&c=0
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