GIFT
This query is : Resolved
29 April 2009
Can i receive gift as immovable property(Comercial) from my dad on my birthday. will there be on clubbing provision applicable.
Can i receive in same way cash.
Can i receive in same way cash.
29 April 2009
Gift in kind is not taxable....
Gift in cash if received from a relative is exempt u/s 56...
Further, there will be no clubbing if ur age is above 18.
Gift in cash if received from a relative is exempt u/s 56...
Further, there will be no clubbing if ur age is above 18.
30 April 2009
Agree clubbing provision applies only when if somebody is below the age of 18.
Gift in kind is not taxable...
Gift in kind is not taxable...
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