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Gifts !!

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(Querist)
10 February 2010 The query is with respect to
Gifts received by a company from its shareholder..
The gift is given voluntarily by the shareholder.

whether the said gift is taxable in the hands of the company, if yes under what head of income.

Please provide the details of the section if it is there.
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CA Amit Kumar Hallen

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CA Amit Kumar Hallen (Expert)
10 February 2010 Yes Its Taxable Under Other source of income.
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
10 February 2010 yes, Taxable under Other Sources
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