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Gift received on marriage
money received from a friend as a gift who resides abroad before six months of marriage of assessee is taxable or not?
Replies (14)
NOT TAXABLE IN THE HAND OF ASSESS EE
AS GIFT RECEIVED FROM ANYONE IN MARRIAGE IRRESPECTIVE OF AMOUNT IS NOT TAXABLE
Yes it's not taxable.
I m confused cos gift is given 6-7 months before marriage date
GIFT SHOULD BE RECEIVED ON THE DATE OF MARRIAGE
what is the situation if we have confirmation from the donor regarding gift ?
BILL OF THE GIFT ?? IF IN KIND
AND CASH GIFT SO VERIFY THE SAME FROM CHEQUE , BANK TRF OR OTHER EVIDENCE .
money is transferred in bank account directly so we have the proof and we can prepare gift deed for the same amount then....?
can you tell what is the amount of gift?
sorry I don't know the amount right now
if it is more than 50000 any person aggregated during the year than it is taxable fully...since it is not received on the occassion of marriage it is taxable....
but assessee can prove that the gift received is for marriage
how can someone prove that amount received 6 months before marriage is related to marriage.and provisions are on the occassion of the marriage that means any gift you received on the day of marriage is exempt
take it as loan right now and convert into gift on marriage date
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