GIFT FROM FATHER IN LAW TAXABLE OR EXEMPTED
This query is : Resolved
18 June 2021
SIR,
one of the it assess cash gift from father in law Rs:1,80,000/- through on cash mode received in f.y.20-21.
Question:
above Gift transactions exempted or taxable in it act.
one of the it assess cash gift from father in law Rs:1,80,000/- through on cash mode received in f.y.20-21.
Question:
above Gift transactions exempted or taxable in it act.
18 June 2021
Such gifts are not taxable under Income Tax Act
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