Can gift be given to son of Rs. 10 lacs by merely book entry , not actual consideration.?
If yes, entry in father's books?
Gone are the days........... in this digital world specifically u/s. 269ST..........
Yes....... specifically over cash transactions only......
Gifts are not returnable..........
There is difference between Gift and Loan.........
Any cash transaction for amount 2 lakhs or more will attract penalty of equal amount for violation of section 269ST.......
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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O P Bagla & Co LLP
New Delhi
CA Inter
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CAclubindia
