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.
Yogesh Kini (Tax Consultant) (86 Points)
20 July 2018Hello,
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.
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 20 July 2018
Fully expemted as reason given by u above.
Yogesh Kini
(Tax Consultant)
(86 Points)
Replied 20 July 2018
Thanks for your reply.
Is there any specifying section on the same.
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 20 July 2018
| Originally posted by : Yogesh Kini | ||
 |
Thanks for your reply. Is there any specifying section on the same. |
 |
Section 56(2).
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