Gift.

Vivek Sarda (Student) (171 Points)

15 March 2018

Can gift be given to son of Rs. 10 lacs by merely book entry , not actual consideration.?
If yes, entry in father's books?

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6 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178001 Points)
Replied 16 March 2018

Gone are the days........... in this digital world specifically u/s. 269ST..........

Vivek Sarda (Student) (171 Points)
Replied 16 March 2018

269ST is attracted if in cash..??

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178001 Points)
Replied 16 March 2018

Yes....... specifically over cash transactions only......

Vivek Sarda (Student) (171 Points)
Replied 16 March 2018

So this gift is correct.. until settled in Cash??

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178001 Points)
Replied 16 March 2018

Gifts are not returnable..........

There is difference between Gift and Loan.........

Any cash transaction for amount 2 lakhs or more will attract penalty of equal amount for violation of section 269ST.......

Vivek Sarda (Student) (171 Points)
Replied 16 March 2018

ok....

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