Hello,
Son has gifted consideration of Rs.380000/- to his Father in FY 2017-18.
My Queries : -
1. Exempted Amount in the above case.
2. Whether it is Fully Exempted as it covers the definition of Relatives.
Kindly provide Suggestions.
Thank You.
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Taxation on gift received from son to father
Replies (4)
Fully expemted as reason given by u above.
Thanks for your reply.
Is there any specifying section on the same.
| Originally posted by : Yogesh Kini | ||
 |
Thanks for your reply. Is there any specifying section on the same. |
 |
Section 56(2).
fully exempted under section 56 (2)(x)
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