Gift - income tax

Krishna (Manager - Genesis Tax Consultant) (531 Points)

15 July 2018

Dear Sir,

Jewel Gift given to son on the ocassion of his Marriage is Exempted? if yes what is the threshold limit?

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (194681 Points)
Replied 15 July 2018

Yes. [as per proviso II of sub-sec. 56(2)(x)(c) of IT act]

No limit.. It should be justifiable....

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Krishna (Manager - Genesis Tax Consultant) (531 Points)
Replied 15 July 2018

Dear Sir,

Thank you so much for the information!!!

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (194681 Points)
Replied 15 July 2018

Most Welcome, Dear .......

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