banner_ad

treatment of cash gift

This query is : Resolved 
Profile Image

Profile Image

(Querist)
25 February 2011 Dear team

What is the treatment of cash gift rs. 51000 received from mother? Mother is NRI.
Profile Image

PINKESH JAIN

Profile Image

PINKESH JAIN (Expert)
25 February 2011 Dnt worry Dear!!
The gift from Mother is not taxble.
The amount and the status of mother does not make any difference.

Refer Section 56(2)(vi)
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
25 February 2011 The gift will not be taxable even if you receive Rs 510000/- from NRI mother.
Refer Section 56(2)(vii)
Profile Image

CA. Lohith Jagadeesh

Profile Image

CA. Lohith Jagadeesh (Expert)
08 March 2011 Hi,
Gifts from Relatives are not Taxable, Residencial Status of the Donor does not matter. Therefore Gift received from Mother is not Taxable. Please Refer Section 56(2)(vii)

Thank you,

Regards
CA.Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


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
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

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

Search Synergy

Mumbai

CA

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details