banner_ad

Taxability of gift

This query is : Resolved 
Profile Image

Profile Image

(Querist)
08 February 2013 An Individual/ HUF Assessee how much amount can receive gift from their relatives? Is their any maximum amount of gift? Please also suggest some case laws on gifts.

Can an Individual receive Rs 50 Lakhs in a PY as gift from his relatives? Also would their be any tax on such transaction? Please response in view of case laws and Legal Provisions
Profile Image

CA. RAGHAV GARG

Profile Image

CA. RAGHAV GARG (Expert)
08 February 2013 Bhavesh Ji,

Don't get so possessive, Just take the Gift and enjoy. But make sure the donar comes under the meaning of Relative.

for further check Sec 56(2)(vi)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


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
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
28 April 2026
Senior Accounts Professional

Vivek S Gupta & Associates

New Delhi

B.Com

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
01 May 2026
Chartered Accountant

Agrawal Jain & Co.

Raipur

CA

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details