gift received son from dad 200000 in this case income tax will come or not.
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Gift received from dad
Replies (4)
Cash or Cheque/digital mode?
cheq and digital
any gift either cash or in kind which exceeds 50000 is taxable but this is exempted if such gifts are received from relatives. Therefore the answer is NO.
gift received son from dad more than 10 lakh Is it taxable or exempt
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