11 November 2020
One of female I.t. Assess cash mode gift received from relatives in f.y.19-20. 1.dt:10-07-2019 cash mode gift from brother Rs:1,50,000/- 2.dt:17-07-2019 cash mode gift from mother Rs:1,60,000/- 3.dt:16-08-2019 cash mode gift from eldersister Rs:1,90,000/- 4.dt:20-08-2019 cash gift from small sisterRs:1,60,000/- 5.dt:20-10-2019 cash mode gift from brother in law(husband brother)Rs:1,30,000/- Question: Assess above all cash mode gift transactions one finicial year allowed in I .t.act and all gifts exempt or taxable.
CAclubindia
