Gift of 50000 cash from father

1708 views
User Avatar

CA IN PRACTICE
16719 Points Posted on 12 December 2013

gift receiv ed from father is not taxable                                 

Reply
On 12 December 2013 at 10:48
User Avatar

Inter C.A. Pursuing C.A. Final
44 Points Posted on 14 December 2013

It is not taxable..There is no limit on amount in case of any gift received from relatives.

Reply
On 14 December 2013 at 10:50
User Avatar

students
26 Points Posted on 14 December 2013
Gift to father is tax free but any income earned out investing the gift amount will be taxed in the hand of father And for mitul Accounting entry will be similar to other loan entry
Reply
On 14 December 2013 at 12:02

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Sec 8 company sec 12ab reg
  2. AIS Password: How to Open Your AIS PDF?
  3. Interview Questions
  4. ITR Filing Last Date 2026
  5. Tds - filing Conso File for tax year 2026-27
  6. ITR-3 Filing For AY 2026-27 - Tips
  7. Capital Gain on sale of Depreciated Factory Gala
  8. Interesting Observation from a Recent Income Tax S
  9. ITR 3 Utility Not Taking Marginal Relief on Net To
  10. MV Electrosystems IPO Allotment Date, Status Check

More recent discussions | Post

Related Topics :

Loading
Follow