Recently my mamaji has transferred 25 Lac to my bank account as gift.
will i have to pay tax on it?
Menu
Gift from Mama ji
Replies (4)
No it is exempt as he covers in the definition of relative under income tax act.
Gift from blood relation exempted
Yes, exempted under the Income Tax Act
Exempted,since your mamaji is covered within definition of relative
Recent Topic
- GTA Annexure V Non Compliance
- Calculation of Demand due to interest u/s 220(2)
- Legal profession business code in section 44ADA
- Whether Indexed Capital Loss Can Be Claimed Under
- Form 145 and 146 Foreign Remittance in Excel Forma
- E invoice missed out/not generated for FY2025-26
- Can a broker's software legally override actual po
- Startup exit in Sept 2025: Can I still save LTCG t
- Need advice
- GST registration
Related Topics
CAclubindia
