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Tax on Gift Gift

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(Querist)
08 March 2010 Dear Sir/Madam,

Kindly give me information in detail regarding the provision of Tax on gift whether it is made in cash or kind to Individual or other persons.
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shrikant

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shrikant (Expert)
08 March 2010 Dear Raga

If gift more than Rs.50000, then its taxable but you received gift from relative then it exempted from tax. Here relative means Brother, sister, Mother, father, husband/wife etc.

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