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INCOM TAX

m.prasad (B.Com) (112 Points)

24 September 2021  
Hai
my friend received Gift (house) in September 2020 from grand mother it taxable or exempted

 4 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)   (2905 Points)
Replied 24 September 2021

Since you have received the gift from a specified relative (i.e. your grandmother), the transfer of this property would not attract tax. It would be advisable for you to document the gift in a legal document viz. a gift deed and place it in your records.

m.prasad (B.Com) (112 Points)
Replied 24 September 2021

Gift settlement deed register 

kiran bari (Student CA Final ) (44 Points)
Replied 24 September 2021

How to tax amount received for waive of tendency right and how to calculate cost of acquisition in tendency right

m.prasad (B.Com) (112 Points)
Replied 25 September 2021

We're we have entered in ITR 3

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