income from other sources

if it is received as gift or by will then not taxable but it is taxable when u sell for consideration

if movable asset is shares and securities Jewellery Drawing Painting Sculpture Any other work of art Bullion and if it is aggregate Fair Market Value exceed 50k entire shall be taxable and For inadequate consideration Difference b/w FMV and Consideration shall be taxable

Thank you

all immovable properties received from other than relatives and from others otherwise than marrige if fair value of property exceeds Rs 50 thousands ...even with lesser consideration then fair value and difference is exceed Rs 50 thousand then it will be taxable in the hands of receipnt under income fro.m other source..

thank you ! what is the case with movable property ? how much it is claimed as deduction?

In case of movable property which is exhaustive list consist of securities jewellary drawings painting received other than relatives and otherwise than marriage if exceeds Rs 5o thousands then its taxable in the hands of receipant...further note for movable properties a console limit is 5o thousands for all the gifts per annum.However for immovable property limit is per property...

Thank you