gift tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 March 2010
dear friends,
my question is that if a private company receives Kishan Vikash Patra(KVP) as gift from person other than directors and shareholders before 1.10.2009 what will be its impact on the taxation of the company. whether it will be exempt or taxable in the hands of company?
with regard
my question is that if a private company receives Kishan Vikash Patra(KVP) as gift from person other than directors and shareholders before 1.10.2009 what will be its impact on the taxation of the company. whether it will be exempt or taxable in the hands of company?
with regard
20 March 2010
A private company cannot receive gift. If you have got it without consideration it will become your other income for that year.
20 March 2010
i agree with Ca B Srinivasalu, A Company cannot receive gifts.
20 March 2010
Agree with experts.
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?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
