Tax on Gift Gift
This query is : Resolved
08 March 2010
Dear Sir/Madam,
Kindly give me information in detail regarding the provision of Tax on gift whether it is made in cash or kind to Individual or other persons.
Kindly give me information in detail regarding the provision of Tax on gift whether it is made in cash or kind to Individual or other persons.
08 March 2010
Dear Raga
If gift more than Rs.50000, then its taxable but you received gift from relative then it exempted from tax. Here relative means Brother, sister, Mother, father, husband/wife etc.
If gift more than Rs.50000, then its taxable but you received gift from relative then it exempted from tax. Here relative means Brother, sister, Mother, father, husband/wife etc.
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
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- Not able to file ITR
- Presumptive income under Income tax act 2025
- Rental income of jointly held property
- Regarding ITR filing with more value than showing in AIS/TIS
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
