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Articles by caushagarg

Detailed Analysis- Gifts Taxation under IT Act

caushagarg 05 July 2014 at 13:23

Taxability of Gift under Income Tax Act, 1961As per Income Tax Act, receiver (donee) of gift is charged to taxation u/s 56(2)(vii). The donor of gift is not charged to taxation under this section. However, the below cases is analyzed from the taxatio