Gift limit
Kishor S SOlanki (Retired Employee) (48 Points)
08 February 2023Kishor S SOlanki (Retired Employee) (48 Points)
08 February 2023
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(172468 Points)
Replied 08 February 2023
No limit for gifts between relatives (here spouses), as exempted u/s. 56(2)(x) of IT act.
But clubbing of income u/s. 64 of the act gets triggered.
CA Rashmi Gandhi
(Chartered Accountant)
(86313 Points)
Replied 09 February 2023
Tellme
(Working)
(25 Points)
Replied 03 April 2023
Originally posted by : Dhirajlal Rambhia | ||
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No limit for gifts between relatives (here spouses), as exempted u/s. 56(2)(x) of IT act. But clubbing of income u/s. 64 of the act gets triggered. |
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Is gift Deed Necessary or any Online Transfer saying gift to relative is sufficient evidence in court ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(172468 Points)
Replied 03 April 2023
No need of gift deed in case of bank transfer; but in case of any query, confirmation of gift receiver is required.
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