ITAT Mumbai Rules Rs 20 Lakh Gift from UAE Brother Exempt from Tax

Sachinpro badge , Last updated: 21 August 2024  
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1. Significant Ruling by ITAT Mumbai Bench The Income-Tax Appellate Tribunal (ITAT) Mumbai bench ruled that a gift of Rs 20 lakh received by a taxpayer from his non-resident brother in the UAE is not taxable. 2. Exemption of Certain Gifts Indian tax laws exempt certain gifts from taxation, part

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Published by

Sachin
(Finance Manager)
Category Income Tax   Report

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