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jwellary gift

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(Querist)
23 February 2009 Is there any tax provision on jwellary gift?
Please reply.
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
23 February 2009 gift given to any person whether he/she is relatives or not is not taxable u/s 56(2)(V)
& 56(2)(VI) only cash given as a gift is taxable if they are not relatives
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CA.MANOJ LAMBA

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CA.MANOJ LAMBA (Expert)
23 February 2009 gift in kind are not taxable
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
07 November 2021 Update: as of now gift given of Jewelary is taxable, unless received from 'Relative'

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