Cash gift
This query is : Resolved
20 September 2012
Dear Sir,
Suppose an individual received Rs. 250000/- in cash from his father, and for that event they draft a gift deed on plain paper.
Whether AO will accept this transaction as a gift.
Please advise me.
Suppose an individual received Rs. 250000/- in cash from his father, and for that event they draft a gift deed on plain paper.
Whether AO will accept this transaction as a gift.
Please advise me.
20 September 2012
yes AO should accept
20 September 2012
gift by father, mother, and closed blood relatives will be acceptable
in your case the ASSESSSING OFFICER SHOULD ACCEPT THE GIFT by your father.
in your case the ASSESSSING OFFICER SHOULD ACCEPT THE GIFT by your father.
20 September 2012
Yes Gift deed can be drafted on Plain Paper if its from close Relatives
20 September 2012
yes if it a genuine transaction, Onus to prove the non genuine tr. is on Revenue.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
