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Gift to son

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(Querist)
13 December 2010 Whether cash gift of Rs. 5 lac given by father to his son is taxable.
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GS Periwal

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GS Periwal (Expert)
13 December 2010 Sec 56(2) not attract if gift is received by lineal ascendant or descendant.
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Asis Kumar Agrawal

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Asis Kumar Agrawal (Querist)
13 December 2010 Thanks
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