CA Day celebration 2024 Easy Office
LCI Learning

Gift from brother

This query is : Resolved 
Profile Image

Profile Image

(Querist)
16 December 2020 Assess cash gift received from elder brother amount above Rs:10 lacs through on bank mode.
Question:
Above transactions tax on gifts applicable in I.t. act.
Profile Image

Harshit Bangar

Profile Image

Harshit Bangar (Expert)
16 December 2020 THE GIFT TO RELATIVES IS EXEMPT FROM THE INCOME TAX AND BUT IT HAS TO BE SHOWN IN INCOME TAX RETURN.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CA Day celebration 2024 with Tally CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links