Is cash gift received by the sports person from Govt of India taxable??? If it's exempt, under which section it is exempt???
5 Replies
Vivek Angrish
(Manager Finance & Accounts)
(232 Points)
Replied 04 March 2010
No, the Cash Gift is fully taxable.It is not exempt under any section
C.Balaji
(Learner)
(1867 Points)
Replied 04 March 2010
Yes...I also think that Cash Gift received is taxable......
Max Payne
(employed)
(2574 Points)
Replied 04 March 2010
Hi,
Just see if it can be covered by sec 10(17A)
Else income from PGBP or IFOS.. u have to examine the case... it will normally be PGBP cos of the professional connection...
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