Dear All First HAPPY NEW YEAR 20011
I want to know that can we take exmpt on income tax on gift given by company(pvt.ltd.)
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INCOME TAX ON GIFT
Replies (2)
co can't give gift so there is no Q of exemption.
but can can give donation which is exempt, ( nature of exemption depends upon nature of donation)
HI happy new year
if assesse takes gift from private company , it will taxble in the hands of assesse if the amount of gift is above 50000 in total finacial year.
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