whether cash gift can be accepted from kith and kin
Menu
Cash gift related
Replies (3)
upto 50000 in aggregate gift in cash or kind is not taxable from any one.
but in case of relatives (as per income tax) all the amount is exempt.
but in case of relatives (as per income tax) all the amount is exempt.
Gift received for more than amount of Rs.50,000 is taxable.
But if the gift is received from relative than it is exempt.
| Originally posted by : Vishal Varun | ||
 |
upto 50000 in aggregate gift in cash or kind is not taxable from any one. but in case of relatives (as per income tax) all the amount is exempt. |  |
Agree with Vishal
Recent Topics :
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
Related Topics :
CAclubindia
