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Income from other sources
I recive rs.500000 from my friend. How much tax I have to paid on it?
Replies (3)
It depends on your slab rate.
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What for you received 5 lakhs from a friend ?
Under what terms you received it ?
First clarify above for reply on tax issue
Today only you joined
What for you received 5 lakhs from a friend ?
Under what terms you received it ?
First clarify above for reply on tax issue
Any sum of money exceeding Rs. 50000 received without consideration by an individual or an HUF from any person is chargeable to tax as income under “other sources” subject to some exclusions.
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