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income tax

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58 Points Posted on 10 May 2007
what is tax treatement of gift when recd. from relative exceeding rs. 25000
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On 10 May 2007 at 16:20 Report
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19 Points Posted on 10 May 2007
Dear Friend
Gift received from a relative (as per definition in Income Tax ) irrespective of the amount is not liable to treated as income of the recipient.
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On 10 May 2007 at 16:20
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34 Points Posted on 10 May 2007
Hi  shankar,

Under income tax, Gift represented by any sum of money received without consideration by an individual or HUF from a relative on or after 1.9.2004 is not liable to tax.



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On 10 May 2007 at 16:20
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CA Final
814 Points Posted on 25 February 2008
Gift received in cash or in kind will be exempt irrespective of the amount or value, if it is received from a relative.
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On 25 February 2008 at 15:51


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