Dear Friends.
In case a assessee having income from salary being a director of a company and Having Profit froma propreitorship concern, Gives a cash gift to his children or recieves cash gift, or from his spouse.
Wat will the tax implication???
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Urgent Gift Taxability
Replies (7)
DEAR ANSHUL,
GIFTS FROM RELATIVES ARE NOT TAXABLE......
AMIR Sir ansul nahi Hai Anshul Hai
Sorry bro. Now I have modified.....
Also check the provisions regarding clubbing if gift received or made to spouse though the gift will not be taxable
Hi Anshul,
gifts from relatives are exepmt from the provisions relating to IFOS
| Originally posted by : Amir | ||
 |
DEAR ANSHUL, GIFTS FROM RELATIVES ARE NOT TAXABLE...... |
 |
Mr.Anshul
Gift from relatives is exempt from tax but
cash gift to Children (clubbing provisions may apply)
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