Donation of Jewellery
This query is : Resolved
17 July 2011
Dear Sirs & Friends,
Does Donation of Jewellery attract Tax U/s 56 of the Income Tax Act 1956 or will it attract Income Tax in any of the other sections. Please help me.
Does Donation of Jewellery attract Tax U/s 56 of the Income Tax Act 1956 or will it attract Income Tax in any of the other sections. Please help me.
17 July 2011
Gift of Jewellery is taxable in the hands of the recipient if the Fair market value exceeds 50000/-
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