Gift taxation

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Hi, our company owner give gift to his brother wife of Rs 4 Lakh is taxable or not if yes so how much tds needs to be deducted on this amount plz help
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Gift given to brother's wife is not taxable. But if the gift is given by the Limited company from its bank accounts(because it is considered to be a different person than the director) then it is taxable in the hands of the receiver.

Tds is not deductible on Gift. It isdeductible on Prize money given.

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