as per sec 56 2 X money aggregate fy if exceeds 50000 is taxable..
is this limit applicable to both relatives and non relatives
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ca intermediate tax
Replies (2)
in relatives , any amount is exempt while in non relative this limit is applicable
Gift to relatives are exempt and therefore 56(2)(x) not applicable.
If money aggregate exceeds 50000 , it is covered u/s 56(2)
If money aggregate exceeds 50000 , it is covered u/s 56(2)
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