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Gift Tax

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(Querist)
04 May 2009 Dear Sir,

Can an Indian Resident Individual give a sum of money to Indian Company as a gift.

Is it legally allowed. If yes, can I know under which clause.

Are there any potential exposures for the Resident Individual.

regards

Sivaraman
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Rajesh Kumar

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Rajesh Kumar (Expert)
05 May 2009 There is no prohibition from gifting anything to a company. However, such gift may be taxable under the head other income in the hand of company.

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