Gift from freind

Deep Garg (Accountant) (259 Points)

30 March 2017  

DEAR RESPECTED MEMBERS PLEASE TELL IF A PERSON RECEIVE SOME MONEY FROM THREE DIFFERENT FREINDS AS A GIFT IN THREE TIMES IN A YEAR BY CHEQUE WILL IT BE CONSIDERED AS GIFT OR WHOLE AMOUNT RECEIVED IS TAXABLE. THE GIFT RECEIVED IN FOLLOWING MANNER-

IST FREIND GIVES HIM CHEQUE OF 10000 IN MAY-16

SECOND FREIND GIVES HIM CHEQUE OF 15000 IN MAY-16

THIRD FREIND GIVES HIM CHEQUE OF 20000 IN NOVEMBER 2016