Revised gift limit...
This query is : Resolved
30 July 2011
I just heard from my Boss that the exemption limit of Gift has been increased to Rs. 1 lakhs... Is it true?? I could not find any notification regarding the same on CCI. If there are any changes, please let me know or send me a link. Thanks.
30 July 2011
If u are asking about section 56(2)(viii) of the Income tax Act,1961, the threshold limit is Rs.50,000/-.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Households luggage
- Selecting Tax Regime while for calculating tax relief on under Section89 of income tax act 1961.
- Cloud service
- P&L and B/s Format for Public Companies
- CSR Impact Assessment
- Regarding Change in Signature before applying for membership
- Sale of Gold ornaments
- GST ON FOREIGN CLIENT
- SECTION 194T
- Capital contribution of Land into SPV for Specific project attracts Income Tax & why ?
- GST ITC on Liquidated damages
- SALE OF GOODS FROM OTHER STATE
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
- Clarification Required on GST Rate & HSN Classification – Millet-Based Probiotic Drink
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani -
IDT LIVE Exam Oriented Batch | May 2026, Sept 2026 & Jan 2027
CA Arpita Tulsyan
CAclubindia
