CCI Online Learning
What do you want to learn today?
     
CIBIL

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Gift received from relative


Banbari Lal (Taxation)     23 July 2018

Banbari Lal
Taxation 
 3 likes  61 points

| My Other Post

In assessment year 2018-19 I received gift from relatives Rs 350000 then it is taxable or not

avater

Aditi Kaur (Practising CA)    1 September 2020

CCI Online Learning offers a library of courses for CA/CS/CMA Aspirants from the best faculties in India. Our top notch courses aim to make your journey from a student to a professional, a successful one. To promise a successful career as a professional CCI Online Learning also offers programs like Financial Modeling, MS Excel, IFRS/IND AS Certification Courses that will help you take your career to the next level. Check out the free demo videos here https://www.caclubindia.com/coaching/


avater

RAJA P M ("Do the Right Thing...!!!")     23 July 2018

RAJA P M
"Do the Right Thing...!!!" 
 8397 likes  114715 points

View Profile | My Other Post

If you received gift as per income tax notified persons (relatives) then it's not taxable... Otherwise taxable.

3 Like
avater

Pranjali (intern)     23 July 2018

Pranjali
intern 
 193 likes  2201 points

View Profile | My Other Post

If the person is falls under 'relatives' as defined under the Income Tax Act, the gifts won't be taxable. The definition of relatives includes;

-your spouse

-your brother or sister or your spouse's

-brother or sister of your parents

-your linear ascendant or descendant or your spouse's

-spouse of the person mentioned above

2 Like
avater

rama krishnan   23 July 2018

rama krishnan

 963 likes  10493 points

View Profile | My Other Post

what is the mode of receipt and what is the maximum amount you received from them if the mode receipt was cash?

1 Like

Banbari Lal (Taxation)     24 July 2018

Banbari Lal
Taxation 
 3 likes  61 points

View Profile | My Other Post

Some amount received in cash & some thourgh cheque


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Related Threads


Loading

Popular Discussion


view more »



Trending Tags
GST Live Class    |    x