Taxability of gift in outo of blood relation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 November 2016
Dear All
I have paid Rs. 1 Lakh cash gift in out of blood relation. Pls tell me weather full 1 Lakh will be taxable or only 50000/-
Regds
Arun Tiwari
I have paid Rs. 1 Lakh cash gift in out of blood relation. Pls tell me weather full 1 Lakh will be taxable or only 50000/-
Regds
Arun Tiwari
15 November 2016
Full one lakh will be taxable as income from other sources.
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 November 2016
But sir on this diwali i have paid cash Rs. 8000/- cash gift to one of our employee his only 3000 is taxable and rest of 5000 is exempt.
So in the case of gift out of blood relation why full 1 lakh is taxable instead of 50000
So in the case of gift out of blood relation why full 1 lakh is taxable instead of 50000
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
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- GSTR-4 Annual Return ! Pending Returns for F.Y. 20-21 to 22-23
- TDS related Query_Liquidated Damages
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
