Menu
Gift limit
Maximum limit of gift amount in a year for spouses and attract tax liability.
Replies (4)
No limit for gifts between relatives (here spouses), as exempted u/s. 56(2)(x) of IT act.
But clubbing of income u/s. 64 of the act gets triggered.
Gift to relative is completely exempted.
| Originally posted by : Dhirajlal Rambhia | ||
 |
No limit for gifts between relatives (here spouses), as exempted u/s. 56(2)(x) of IT act. But clubbing of income u/s. 64 of the act gets triggered. |
 |
Is gift Deed Necessary or any Online Transfer saying gift to relative is sufficient evidence in court ?
No need of gift deed in case of bank transfer; but in case of any query, confirmation of gift receiver is required.
Recent Threads
- ITR-3 Presumptive 44AD + Business income - Require
- Block income tax return ITRB
- ITR-1 FORM FOR AY 2026-27
- Service Tax Apple and Pre Deposit
- Sale of redeveloped property Tax
- 44ADA or 44AD for App Store app sales (194O TDS) a
- Returning NRI employment person Tax status
- Audit of clients of Portfolio Manager (PMS)
- Section 56(2)(x) on agriculture land in Rural area
- GST Rules 86B
Related Threads
CAclubindia
