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
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