Easy Office
LCI Learning

Exemption on gift given

This query is : Resolved 
Profile Image

Profile Image

(Querist)
20 November 2008 Hi Sir,

When any gift received from someone upto 50,000 is exempted in the hand of receiver,
what about the giver, can he claim any exemption that he has gifted certain amount to somebody?
Please reply
thanks
Rajesh
Profile Image

Ravikumar.G

Profile Image

Ravikumar.G (Expert)
20 November 2008 If a company pays gift to employees, it will come under the FBT Net and it is also claimable.
Profile Image

CA.ViVeK M ACA

Profile Image

CA.ViVeK M ACA (Expert)
20 November 2008 Donor of the gift presently not have any provision to claim deduction on account of Gift.
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

CA RAMESH KUMAR AHUJA

Profile Image

CA RAMESH KUMAR AHUJA (Expert)
20 November 2008 No, it is treated as the apportionment of capital and is not deductible in calculating the taxable income.
Profile Image

Rajesh Kumar

Profile Image

Rajesh Kumar (Querist)
20 November 2008 Thank a lot sir.
regards
Rajesh

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links