Can gift be given to son of Rs. 10 lacs by merely book entry , not actual consideration.?
If yes, entry in father's books?
Gone are the days........... in this digital world specifically u/s. 269ST..........
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166533 Points)
Replied 16 March 2018
Gone are the days........... in this digital world specifically u/s. 269ST..........
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166533 Points)
Replied 16 March 2018
Yes....... specifically over cash transactions only......
Vivek Sarda
(Student)
(171 Points)
Replied 16 March 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166533 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.......
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