Gift from relatives sec 68 applicable
This query is : Resolved
27 November 2020
One of I.t. Assess cash gift received from family relatives (1,90,000 *10)10 members one finicial year .
Question:
Assess sec 68 applicable in I.t. act.
Question:
Assess sec 68 applicable in I.t. act.
27 November 2020
68 not applicable if it's of genuine cash gift received.
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29 November 2020
Please give details of who are the family members who gave cash and what was occaasion for it purpose and sec 56 and 68 applicability.
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