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gift from chacha
Any gift received from chacha (Brother of Parents) is taxable or not of Rs 100000/-
Replies (7)
Not taxable........ as gift received from 'relative'
Chacha being relative of Bhatija as per sec 56(2) of IT act......
Dhirajlal sir whether it is compulsory to make gift deed in such case??
Though not always mandatory, but advisable to make the same for future safety.
When the transfer is made by cheque or banking mode, just a confirmation of gift on plain paper citing the bank transaction ID, alongwith its acceptance by receiver, in presence of any two witnesses is sufficient.
thank you sir...
Most Welcome ....
But chacha is not in list of relatives
| Originally posted by : Sudhir Goyal | ||
 |
But chacha is not in list of relatives |  |
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