dear sir
kindly advice me if gift received from son and daughter by cheque payment and the aggregate amount more than 50000 is taxable for person?
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Gift limit in year f.y. 2016-17
Replies (6)
No
Gift from relative is not taxable
Gift from relative is not taxable
gift received from relative not taxable even more than rs. 50000.
if gift is not related to relative person can this taxble what of rate of tax and which had of income
not taxable in the case of relative whether 50000 or more by cheque or cash
if gift received from non relative then upto 50000 as whole not taxable...if exced then whole will be taxed in ifos head @ the slab rate applicable
thanks
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