Menu
Cash gifts
i.t.assess cash gifts received from family members 1 lacs * 5 members cash mode allowed one finicial year under i.t.ct
Replies (3)
Please elaborate query
The definition of relative is defined under Income tax act if family member is is covered in the definition of relative then the gift income will be exempted otherwise it will be taxable
Same is exempted only if family members covered under defination of relative
Recent Threads
- Standard deduction for family pensioners
- Concerning tax savings or understanding the long-t
- F&O losses
- Is form 10 IE needed in this case?
- TDS on purchase of property more than 50 lakhs
- Withdrawal from post NSS
- Section 10(11) or 10(12) of exempted income
- New income tax act
- Duplication of Interest on SCSS deposits in postof
- Declaration of foreign investment
Related Threads
CAclubindia
