Tax on Gift Gift
This query is : Resolved
08 March 2010
Dear Sir/Madam,
Kindly give me information in detail regarding the provision of Tax on gift whether it is made in cash or kind to Individual or other persons.
Kindly give me information in detail regarding the provision of Tax on gift whether it is made in cash or kind to Individual or other persons.
08 March 2010
Dear Raga
If gift more than Rs.50000, then its taxable but you received gift from relative then it exempted from tax. Here relative means Brother, sister, Mother, father, husband/wife etc.
If gift more than Rs.50000, then its taxable but you received gift from relative then it exempted from tax. Here relative means Brother, sister, Mother, father, husband/wife etc.
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