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Amount received as a Gift

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(Querist)
26 February 2009 An assessee is a Resident Indian received USD 2000 as a gift from Hongkong and amount credited in his account Rs.84500 (USD 2000) in Assessment Year 2008-09. Whether consideration as a taxable income or not.
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CA.MANOJ LAMBA

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CA.MANOJ LAMBA (Expert)
26 February 2009 if it is received from non relative, it is taxable in hands of assessee.

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