which of the following gift will be taxable, and why ?
a) gift received on marriage anniversary from father;
b) gift received on B'day from wife;
c) gift received from very close friend on assessee's marriage;
d) gift received on new year from brother of grandfather;
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gift taxability
Replies (8)
d) Gift received from on new year from brother of grandfather.
because brother of grandfather is not within the meaning of relative
if totally property. received during the year in excess of rs 50,000 the hole amount is taxable
because brother of grandfather is not within the meaning of relative
if totally property. received during the year in excess of rs 50,000 the hole amount is taxable
father is in meaning of relative ?
only d) is taxable
yes father is within the meaning of defination of relative
| Originally posted by : ASHUTOSH Rai | ||
 |
which of the following gift will be taxable, and why ? a) gift received on marriage anniversary from father; b) gift received on B'day from wife; c) gift received from very close friend on assessee's marriage; d) gift received on new year from brother of grandfather; |
 |
As per my view C is taxable. Bcoz, Friend is not a relative under definition of relative. So, If Gift is above 50k then it's taxable.
Mr. RAJA P M income tax is governed by income tax act
not as per your view
ANY AMOUNT received on occasion of assessee s marriage is not chargeable to tax
not as per your view
ANY AMOUNT received on occasion of assessee s marriage is not chargeable to tax
| Originally posted by : MOHAMMED IMRAN | ||
|
Mr. RAJA P M income tax is governed by income tax act not as per your view ANY AMOUNT received on occasion of assessee s marriage is not chargeable to tax | |
HA HA HA HAAAA.....
Thank You Dear and Also very well words from You...
GOOD LUCK...
D is correct answer. Raja P M view is not right
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