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Gift received from reletives

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02 April 2010 Gift received from relatives in F.Y.10-11 is taxable or not?if taxable then upto what limit?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
02 April 2010 Gift received from a relative is exempt.
No limit. For details see Sec 56(2)(vii) -- Exempted Categories
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CA Gangadhar Mishra

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CA Gangadhar Mishra (Expert)
02 April 2010 Gift Recd in cash or kind from relatives only exempted without any limit.
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