tax liability on gift
This query is : Resolved
Mahender Singh
(Querist)
08 March 2017
My mother wants to gift Rs. 2,00,000/- to me and my personal income is more than 300000/- how much tax liability comes when I got gift
KAVIRAJA ADDANGADI
(Expert)
08 March 2017
Gift from Mother is not taxable.
08 March 2017
Mother is included in definition of relative. Hence no taxability arises on such gift.
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