Answer plz

This query is : Resolved

Guest

Guest (Querist)

18 November 2011 Good Morning Sir/Mam,
Can U Plz Tell Me That If We Will Give Gift To Anyone Than Will We Paid Tax. How Much Tax We Will Paid

CA VISHAL RANA,CS,B.Com,AMFI

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
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18 November 2011 Rajeev if you gift anyone otherthan relative specified in sec 2(24)..gift whether in cash or kind will be taxable in the hands of gift reciever u/s 56(2)(vii)...but will not taxable in the hands of gift giver....so as per provisions of sec 56(2)(vii) gift will be exempt in your hands(gift giver)..

Guest

Guest (Querist)

18 November 2011 MEANS SIR I WILL NOT PAID TAX

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CA VISHAL RANA,CS,B.Com,AMFI

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
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18 November 2011 simply think rajeev you are not require to pay tax because you are not recieved anythink...you are only gift giver.....anythink gifted by you will be taxable in the hands of reciever as per provisons of sec 56(2)(vii)...if you are reciever than it will be taxable in the hands of you