Menu
Taxability
If gift is received from relative(mother in law) & the amt of gift is Rs 30,00,000. Whether it is taxable in the hands of individual or not??
Replies (2)
gift from relative of any amount is exempt from tax. relative means a relative defined under income tax act. it includes mother in law. so in your case it is exempt from tax.
Prepare a gift deed duly stamped and registered because the amount is large.
Recent Topics :
- Non filing of MGT-14 for MD appointment
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
Related Topics :
CAclubindia
