GIFT RECEIVED FROM RELATIVE
Kanhu charan dssh (Accountant) (38 Points)
02 August 2020
If a person received property from relative as a gifit .is it taxable.
4 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 02 August 2020
What is the relation ?.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 02 August 2020
Good question dear Mr Prasad Nilugal...
keep it up...
keep it up...
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 02 August 2020
If a person received property from relative (brother and sister) as a gift without consideration than it's not taxable under Income tax Act.
Because brother and sister (Not cousin) is considered as relative.
Because brother and sister (Not cousin) is considered as relative.
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