29 December 2009
how much amount can be added to the capital by the individual on account of his Marriage stating the amount is received as cash Gifts ?
is There any specific criteria to determine the same ?
On what Grounds the ITO May questuion the Capital addition on accout of these gifts ?
07 January 2010
There is no monetary limit on gifts recieved on marriage, but you have to satisfy the Ao that you have recieved the amount on the occassion of the marriage by providing the confirmation letters from the person who has given the gift.
CAclubindia
