Someone receives 1.25 lakh as gift for daughters marriage from her sister, will this be taxable?
15 Replies
sabyasachi mukherjee
(27574 Points)
Replied 05 June 2022
Yes it is taxable but not for immediate blood relation.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 05 June 2022
Gift received from Relative is completely exempt
sabyasachi mukherjee
(27574 Points)
Replied 05 June 2022
Immediate blood relation is completely exempted sec 56
MPR Sanjay Kumar
(3118 Points)
Replied 05 June 2022
My neighbor Uncle receive Rs 80000 worth of Gift from his relation it is taxable ???
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 05 June 2022
Relative here means:
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In case of an individual-
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CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 05 June 2022
Cmpletely exempt as granddaughter covered under defination of relative.
MPR Sanjay Kumar
(3118 Points)
Replied 05 June 2022
Suppose gift from friend Rs 90000 means taxable??
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 05 June 2022
If received from friend then taxable
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 05 June 2022
If received from friend then taxable
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