16 December 2009
Any individual received 4 lacs from his father-in-law at the time his marriage without any document or deed. can u tell me this amount is taxable income under IT act?
16 December 2009
Though the contentions of Sir Surendra & Sir Murtaza is acceptable as far as practicality is concerned but no monetary limit has been specified under section 56 in relation to gifts received from one's relatives at the time of his/her marriage.