Gift

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2013 1.If a person gives a gift of RS.50,000 to his spouse, whether it is taxable in the hands of giver or not?

2. In the above question, if he gives a gift of more than Rs. 50,000 then it is taxable in the hands of giver or not?

3. If a father gives a land to his son as gift whether it is taxable in the hands of father?

4. If a relative gives a gift to a person of Rs.5o,ooo on account of his marriage whether it is taxable in the hands of giver?

5. Same as question.4 but gift given by a friend then it is taxable in the hands of friend or not?

@VaibhavJ

@VaibhavJ (Expert)
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23 February 2013 Hi,

Gift in cash or kind received from relative is tax free.

Any gift received from non relative on occasion of Marriage is also not taxable.

Thanks!!

Guest

Guest (Expert)

23 February 2013 NO,,

IN ALL CASES, GIFT WILL NOT BE TAXABLE

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@VaibhavJ

@VaibhavJ (Expert)
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23 February 2013 Thanks for confirmation.