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Gift

This query is : Resolved 
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(Querist)
28 September 2009 Mr.A's HUF receives gift by cheque of Rs.2 lakhs from Mr B who is elder brother of Mr A.
Please tell me with reason whether this gift is taxable or not.
Thanks

Parikhnavin
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CA CHINTAN AJMERA

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CA CHINTAN AJMERA (Expert)
28 September 2009 No not taxable.

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