Gift deeds confusion
S M (4 Points)
24 March 2023Also gift from individual to spouse will be exempt or taxable
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 24 March 2023
1. Both will be exempt under IT act.
2. But in second case, clubbing problem would arise.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 24 March 2023
Yes, grandson is linear descendent to grandfather, so is RELATIVE u/s. 56(2)(x) of IT act.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"