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60 TH MARRIAGE GIFT RECEIPT REG
Gift cheque of Rs.222000/ Received From Various Persons on 60th Birthday for my friend's father who is an assessee having annual income 6.75 lakhs above whether exempt u/s 56 of I T Act 1961 or includible in his Total income.Please also tell us 60th birthday can be considered as 60th marriage occasion.
Replies (1)
Not Exempt under 56
Deemed income of full 222000/- includible
Marriage anniversary does not qualify for Exempt Gift.
But you have great idea indeed to interchange birth & marriage date ☺️
Deemed income of full 222000/- includible
Marriage anniversary does not qualify for Exempt Gift.
But you have great idea indeed to interchange birth & marriage date ☺️
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