Cash gift

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 August 2012 We are collect Rs. 1/- from employee and paid to revenue department, it is a correct procedure? (Salary transfer from bank)

-- Regards

Querist : Anonymous

Querist : Anonymous (Querist)

29 August 2012 one of my client has received cash gift worth RS.250000/- from his father during A.Y 2009-2010. case is reopen under section 147 and i have submitt all the document like declaration, 7/12,8A copy, Agriculture bill of his father even though they have passed order by adding 250000 Rs.now the case is pending against commissioner appeal...so now how to fight in appeal...whether a cash gift is disallowed received from father..???

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
Follow

29 August 2012 Regarding First Query: - No Problem

Regarding Second One:- No, It is Not a Income & Exempt Under Section 56.Since Father is Also a Relative.

Upgrade to CAclubindia Pro. Subscribe Now!