gift
This query is : Resolved
30 September 2017
Pl clarify the following
any gift 30 lacs from father to daughter is taxable or not
any gift 30 lacs from sister to sister is taxable or not
and also we assume that the sane amount has been kept in fixed deposit what iz inconetax treatment
01 October 2017
Yes...
Gift to relatives (blood) is excempted in IT... Prepare Gift deed... It's helpful in future reference...
01 October 2017
Gift to relative is exempted. So in both case no tax attracted.
Also made gift deed on stamp paper for legality of transaction.
01 October 2017
father to daughter
sister to sister
Gift is exempt.
Interest on fixed deposit of such gift is subject to CLUBBING provisions under section 64. Please go through the same
sister to sister
Gift is exempt.
Interest on fixed deposit of such gift is subject to CLUBBING provisions under section 64. Please go through the same
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- Confusion around Form 26QB fields
- Filing of Form 10BB instead of Filing Form 10B
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- Applicability of Ind As to associate of associate
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
- Need to correct "Whether it is last installment " response in Form 26 QB
Trending Online Classes
CAclubindia
