Gift
This query is : Resolved
03 June 2011
If a person have two minor child both the child received 40000/- (Total Rs. 80000/-)as gift. Whether these are taxable in the hand of Tax-Payer(Parent ) or not. If taxable, upto what amount.
03 June 2011
If Child received gift from the relative exempted u/s 56(2) of the IT Act, nothing is taxable in the hands of the Parents. If not, Taxable
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