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Gift tax on shares

This query is : Resolved 
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(Querist)
29 December 2013 If my father gift shares to me value above rs.50000
Will it be taxable i
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
02 January 2014 Gift received from relatives is NOT taxable by virtue of Section 56(2)(vii).

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