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Gift In Kind - taxablity

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(Querist)
19 April 2009 Hi,

if i receive the flat from grandson of my mother's sister or anyone. will it be taable as per IT act because gift in kind is nto taxable as per me.
will ITO can play anyting on it ?
and what will be implication in stamp duty for tamilnadu
regards
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C A GROUP COACHING

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C A GROUP COACHING (Expert)
19 April 2009 Gift in kind is not taxable. Pls be relaxed & take the gift. ITO cannot Challenge you. Just check all the documentation is right
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Deepak Goel

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Deepak Goel (Expert)
19 April 2009 I am also support Mr. Ambani
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Aashish

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Aashish (Querist)
24 April 2009 Thanks for response

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