Benefit gift of cash or proprietary
Kollipara Sundaraiah (B.com) (2963 Points)
18 December 2021question:
father gift to son cash or proprietary benefit in it act.
Kollipara Sundaraiah (B.com) (2963 Points)
18 December 2021
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(171248 Points)
Replied 18 December 2021
FATHER'S GIFT TO SON WITH REGISTERED GIFT DEED IS EXEMPT UNDER IT ACT.
CASH GIFT BELOW 2 LAKHS ALSO ACCEPTABLE PROVIDED GIFT DEED REGISTERED.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)