Rate of tax on gift

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Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2014 Experts,

What is the rate of Income Tax on Gift received from person other than relative ?

Thanks.

CMA. CS. Sanjay Gupta (Expert)
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13 September 2014 Other than relative. Exempted upto Rs 50000/-. There is no special rate for gift. It is taxed as per applicable slab.

Querist : Anonymous

Querist : Anonymous (Querist)

13 September 2014 Ok thank you expert...

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