Gift from Maternal Uncle (mama), i.e. mother's own brother
This query is : Resolved
07 May 2024
Can Maternal Uncle (mother's own brother) gift 7 lk.. without any tax implications?
(The purpose is to trnsfr this money (equivalent) to UK to assist in purchase of the property.)
(The purpose is to trnsfr this money (equivalent) to UK to assist in purchase of the property.)
07 May 2024
Yes. As per sec. 56(2)(x) of IT act, gift received from Maternal uncle is tax exempt to Bhanja.
Message likes :
1 times
08 May 2024
Yes, the gift will be exempt from tax under The Income Tax Act, 1961
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
