Gift on the occasion of marriage.
This query is : Open
15 February 2012
Dear sir,
If an individual receives a gift of Rs. 200000/- lacs in cash, from his father-in-law on the occasion of his marriage. whether the said gift would be allowed by Assessing Authority as exempt ?
Regards !
If an individual receives a gift of Rs. 200000/- lacs in cash, from his father-in-law on the occasion of his marriage. whether the said gift would be allowed by Assessing Authority as exempt ?
Regards !
15 February 2012
Yes. Gift received on occasion of marriage from anyone is exempt from tax. Also there is no limit in this regard. So in the given case gift will be fully exempt in the hands of recipient.
15 February 2012
Agree with Expert. Sec 56(2)(VI) of income tax act, 1961 has exempted any amount of Gift from Relatives.
Thanks
Mihir Doshi
Thanks
Mihir Doshi
15 February 2012
Agree with Expert. Sec 56(2)(VI) of income tax act, 1961 has exempted any amount of Gift from Relatives.
Thanks
Mihir Doshi
Thanks
Mihir Doshi
15 February 2012
Agree with Expert. Sec 56(2)(VI) of income tax act, 1961 has exempted any amount of Gift from Relatives.
Thanks
Mihir Doshi
Thanks
Mihir Doshi
15 February 2012
Whether, the said gift has to mention in income tax return or not ?
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?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- 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
