Taxation of gift on occasion of marriage
This query is : Open
rajendra utpat
(Querist)
16 April 2018
Mr.X is going to marry very soon.
His friend Mr.Y is going to gift him free of cost immovable property
What is taxability of such gift?
How to make gift deed?
Any tax payable on stamp duty valuation?
His friend Mr.Y is going to gift him free of cost immovable property
What is taxability of such gift?
How to make gift deed?
Any tax payable on stamp duty valuation?
CA Rashmi Gandhi
(Expert)
16 April 2018
Gift on marriage is tax free.
Gift deed is required to be made in prescribed format.
CA SUNIL K GARG
(Expert)
17 April 2018
pls refer to section 56 (2) x, gift recd on marriage of individual is exempt from tax .
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