10 September 2017
Sir, for gifting of an immovable property without having any consideration to a non relative what would be the tax liability for donee and whether doner of d property needs to pay any tax? here both doner n donee are individual n both r not relative as they are friend. Sir please clarify this as per applicable section.
10 September 2017
Gifts will not be taxed if the gift is received from a relative or received by way of inheritance or by way of will or received on marriage or received from any institutions mentioned under Sec 10(23C).
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