Is 50,000 limit to be taken separately for cash, movable and immovable property gift?
If jewellery worth 60000 given as gift? Now will cash gift 10000 also become taxable?
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please help. section 56(2)(vii)
Replies (3)
1. Aggregate
2. Yes
Yes ! 50000 is not an individual limit. It is an aggegate limit.
Yes I agreed with Dhiraj&Rohit.
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