Hi, I would like to get clarity on the Taxability of Gift received . Car received on occassion of Marriage is not covered u/s 56 (2) as movable property. So then is it taxable ?
Cash recived on occassion of marriage any limit for that ?
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Gift in cash & kind
Replies (3)
Chetna ji,
Gift received on the occassion of marriage is exempt from taxability. Moreovr there is no limiting amount or so. It is exempt even it it is received from other than relatives.
ketan is rt...
all the gift received on the occassion of marriage is exempt..
agreee with mr LALIT
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