Mr. A & his 16year aged son both received a gift of ₹45,000 & ₹10,000
from a non-relative during the year.
What would be the tax consequences??
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gift & clubbing
Replies (1)
Unless the gift to minor son is for his specific performance........ it will get clubbed and hence taxable in hands of his father under head IFOS.....as aggregate gifts exceed limit 50K.
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