Exemption for sportpersons

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CA
167 Points Posted on 04 March 2010

Is cash gift received by the sports person from Govt of India taxable??? If it's exempt, under which section it is exempt???

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On 04 March 2010 at 16:20 Report
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Manager Finance & Accounts
232 Points Posted on 04 March 2010

No, the Cash Gift is fully taxable.It is not exempt under any section

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On 04 March 2010 at 16:55
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Learner
1867 Points Posted on 04 March 2010

Yes...I also think that Cash Gift received is taxable......

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On 04 March 2010 at 20:28
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employed
2574 Points Posted on 04 March 2010

Hi,

Just see if it can be covered by sec 10(17A)

 

Else income from PGBP or IFOS.. u have to examine the case... it will normally be PGBP cos of the professional connection...

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On 04 March 2010 at 20:59
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CS Final
1049 Points Posted on 04 March 2010

Hey.... Cash gift is taxable yer.......

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On 04 March 2010 at 21:19
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Student
498 Points Posted on 05 March 2010

i will go with ORE

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On 05 March 2010 at 23:59

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