Gift deeds confusion
S M (4 Points)
24 March 2023Also gift from individual to spouse will be exempt or taxable
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(172423 Points)
Replied 24 March 2023
1. Both will be exempt under IT act.
2. But in second case, clubbing problem would arise.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(172423 Points)
Replied 24 March 2023
Yes, grandson is linear descendent to grandfather, so is RELATIVE u/s. 56(2)(x) of IT act.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)