as per sec 56 2 X money aggregate fy if exceeds 50000 is taxable..
is this limit applicable to both relatives and non relatives
Menu
ca intermediate tax
Replies (2)
in relatives , any amount is exempt while in non relative this limit is applicable
Gift to relatives are exempt and therefore 56(2)(x) not applicable.
If money aggregate exceeds 50000 , it is covered u/s 56(2)
If money aggregate exceeds 50000 , it is covered u/s 56(2)
Recent Threads
- TAX ON SALE OF COMPANY'S SHARES
- Refund on Hold - Section 245
- CLARITY REGARDING ESIC WAGE CALCULATION AFTER NEW
- GST Rule 14A for Export of Service with Hypothetic
- GST ON QUERY
- Initimation on AIS
- GST on sponsorship from foreign body corporate
- Revised Income tax return karna padega kya
- Registration as deductor on traces site
- Rental Income from a Joint Holding property
Related Threads
CAclubindia
