gift from mother

Anshul Gupta (Article clerk ) (131 Points)

22 July 2019

Gift from mother In wich sec exempt?

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Rohit Gala (student) (208 Points)
Replied 22 July 2019

Sec. 56(2)(x) of IT act, 1961.

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Anshul Gupta (Article clerk ) (131 Points)
Replied 22 July 2019

Not under sec 10?

Rohit Gala (student) (208 Points)
Replied 22 July 2019

No. gift is otherwise taxable u/h 'Income from other sources'; and not tax-exempt.

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Anshul Gupta (Article clerk ) (131 Points)
Replied 22 July 2019

Computax m kha show krege to iski exemption claim krne ke liye

rama krishnan (12239 Points)
Replied 22 July 2019

gift from relatives is exempt under section 56(2)(x) subject to clubbing provisions in the hands of donor

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