Is gift received by a person from his client on the occasion of marriage taxable under PGBP section 28?
Or will it be exempt as per 56(2)(x)?
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Gift from client
Replies (3)
Exempt u/s 56(2)(x).
gift received by a person from his client on the occasion of marriage is NOT CHARGEABLE TO TAX
NON APPLICABILITY OF SECTION 56(2)(x)
any sum of money or value of property received on the occasion of marriage is outside the ambit of the above section
section 28 is charging section applicable in course or furtherance of business
gift on the occasion of marriage is outside the ambit in the course or furtherance of business
so, GIFT RECEIVED ON THE OCCASION OF MARRIAGE IS NOT CHARGEABLE TO TAX
NON APPLICABILITY OF SECTION 56(2)(x)
any sum of money or value of property received on the occasion of marriage is outside the ambit of the above section
section 28 is charging section applicable in course or furtherance of business
gift on the occasion of marriage is outside the ambit in the course or furtherance of business
so, GIFT RECEIVED ON THE OCCASION OF MARRIAGE IS NOT CHARGEABLE TO TAX
Thank you dhirajlal sir and mohammed bhai😊
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