what is the tax treatment of gift in the hands of the person who gives such gift??
could you explain it under the below contexts...1.money 2.immovable property..
iam aware of sec 56 but how does it go in the hands of a person who is giving it??
also are we supposed to get the gift resistered(sorry if its the wrong word to use)??
There is no tax in the hands of the giver of gift. It is taxed only in hands of the receiver.
The gift deed should be made on a Rs. 100/- stamp paper. It would suffice.
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