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Gift received from Grand father to Grandsons
Dear Sir, Grandfather gift to his Grandsons of Rs. 50 Lacs. Grandsons have liability to pay income tax on these gift received ? and any limits
Replies (6)
No... The said gift exempted as per income tax act.
Now if the gift includes capital asset. Still it is not transferable.
| Originally posted by : sabyasachi mukherjee | ||
 |
Now if the gift includes capital asset. Still it is not transferable. |  |
What a great reply 😃😃😃
Keep it Up Sir...
Raja sir, do grandfather fall under the definition of relative as per section 56 ?
| Originally posted by : Ashwin Kumar | ||
|
Raja sir, do grandfather fall under the definition of relative as per section 56 ? | |
Yes Dear...
Is there any wrong...??!!
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