Respected Member
Please suggest me
Mr.x Received Gift Rs.350000 Through Chq
From Uncle
But Uncle Adopted Mr.x As a Son
So Gift is Taxable or Taxfree
Thank you in Advance..
Menu
Gift Related Quary
Replies (2)
In either case it is exempt as per sec. 56(2) of IT act..
It is exempted as there is blood relation and above all adoption will.
Recent Topics :
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
- Free CA Foundation Study Material - PYQs with Sugg
- INCOME TAX
- Moving from old to new tax regime after notice
- Need urgent help on notice
- ITR-3 - F&O Loss adjusted against business inc
- Error - Blank Rows in Schedule SI (ITR-2)
Related Topics :
CAclubindia
