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)
Quick Summary
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 :
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
Related Topics :
CAclubindia
