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gifts on marriage

29 December 2018

my client was married 5 months ago . their relatives were comitted that gift of 10 cents of site. and they made gift agrement on same day but it was registered some months later for some reasons . so that gift whether exempted or not

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5 Replies

Nitesh bind (Student CA Final ) (12692 Points)
Replied 29 December 2018

If it is received from Relatives then it is exempt irrespective of the fact whether it has been given on marriage or after that.

If it is received from Friends etc. then you have to prove that the Gift was given due to occasion of marriage only.

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Dhana Sai (234 Points)
Replied 29 December 2018

we have valid aggrement .

soma chandrika sangoju (0) (96 Points)
Replied 29 December 2018

Sir,
Irrespective of the date of registration, gift received on occasion of marriage is exempt whether it is received from relative or non-relative

Dhana Sai (234 Points)
Replied 29 December 2018

thank u mam for ur valauable responce.

ANKUR TAH (Teacher Consultant and CA finalist.) (543 Points)
Replied 29 December 2018

If gift from relative then it's exempted otherwise if it's exceeding aggregate of rs 50000 then taxable.
Note:above provision is for gift without consideration.

2 Like