Poonawalla fincorp
Poonawalla fincorp

Gift section 56(2)

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(Querist)
16 August 2011 what is the limit of exchanging gift b/w husband and wife?

Then what is the meaning of the section 56(2) clause vii in which 5 conditions are given which says 50000/- limit does apply on relatives?
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Ravikant

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Ravikant (Expert)
16 August 2011 No limit,
Rs. 50000 limit does not apply to relatives

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