Mr. A & his 16year aged son both received a gift of ₹45,000 & ₹10,000
from a non-relative during the year.
What would be the tax consequences??
Menu
gift & clubbing
Replies (1)
Unless the gift to minor son is for his specific performance........ it will get clubbed and hence taxable in hands of his father under head IFOS.....as aggregate gifts exceed limit 50K.
Recent Threads
- GSTr 9 24-25
- Change HSN
- TDS ISSUE ( DIFFERENT SECTION )
- Company strike off with loan waiver accounting iss
- Board resolution for authorization for GST
- Invoice related audit
- Gst input credit related
- Updated ITR as missed the dead line
- Change if place of business l
- Purchase from unregistered dealer garments busines
Related Threads
CAclubindia
