Gift Tax On gift of money
Rajan Dubey (71 Points)
12 October 2024
I want to know that how much gift tax will be imposed if someone gift Rs. 17,00,000/ to someone
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(194575 Points)
Replied 12 October 2024
If the donor is 'relative' to donee as defined under section 56(2)(x) IT act, no tax liability. Otherwise as per slab rate.
sabyasachi mukherjee
(27781 Points)
Replied 14 October 2024
Please mention the relationship of donor and donee
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