GIFT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 June 2011
CAN A SON GIVE THE GIFT TO THE OWN FATHER.
WHAT IS THE EXEMPTED LIMIT IN INCOME TAX ACT. 1961.
PLEASE OVERCOME THIS PROBLEM.
THANKING YOU
WHAT IS THE EXEMPTED LIMIT IN INCOME TAX ACT. 1961.
PLEASE OVERCOME THIS PROBLEM.
THANKING YOU
15 June 2011
A SON CAN GIVE GIFT TO HIS FATHER.
THERE IS NO TAX ON GIFT TO RELATIVES AS DEFINED IN SECTION 56(2).
THERE IS NO TAX ON GIFT TO RELATIVES AS DEFINED IN SECTION 56(2).
15 June 2011
gift to father is exempt
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