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Gift received from mother

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76 Points Posted on 10 July 2020
if I am take money as gift more than Rs. 50,000/- than it is tax treatment in income tax ?
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On 10 July 2020 at 13:41 Report
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Chartered Accountant
4524 Points Posted on 10 July 2020

Gift from specified relative is exempt from tax u/s 56(2) of I. T. act and relationship of mother and son is covered in specified relative

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On 10 July 2020 at 13:57
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76 Points Posted on 10 July 2020
Mother to son
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On 10 July 2020 at 13:58
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Chartered Accountant
4524 Points Posted on 10 July 2020
Already explained in above reply
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On 10 July 2020 at 14:00
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76 Points Posted on 10 July 2020
Ok sir thank you
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On 10 July 2020 at 14:02


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