Hi!
If i gift my friend a car would it be taxable for my friend??
Note that the property definition for purpose of taxabilty of gifts doesnt include cars
Thanks in advance!
Menu
Gift taxability
Replies (2)
But since gift in kind includes & deemed to have always included Car of which value exceeds 50000/- so it will be taxable
Sorry for the above reply , yaa Car would not be taxable
Recent Topic
- Foreign citizen as directors
- Which category of Employer is applicable to Kendri
- GST on Post-OC Installments – Payment Milest
- Sec-54F exemption and Carry forward losses
- FEMA treatment — USD gift from LRS-funded fo
- RSU and Schedule FA related
- ELIGIBILITY FOR COMPOSITION SCHEME
- Doubt regarding the purpose of Section 52(3) of Co
- 112 A Filling
- Long Term Capital Loss in ITR2
Related Topics
CAclubindia
