29 December 2019
Hello, Whether gifts received on the occassion of the son's or daughter's wedding is exempt from tax? For example Mr X received Rs 5lakhs on the occasion of his son's wedding.Whether such receipt is exempt in the hands of Mr X
30 December 2019
Gift received in the hands of X on the occassion of marriage of his son is not exempt as the same is exempted only in the hands of the person himself who is receiving the income and who is getting married. in other words, the person marrying and receiving must be the same.
CAclubindia
