Respected Member
Please suggest me
Mr.x Received Gift Rs.350000 Through Chq
From Uncle
But Uncle Adopted Mr.x As a Son
So Gift is Taxable or Taxfree
Thank you in Advance..
In either case it is exempt as per sec. 56(2) of IT act..
Kamlesh Tolani (accountant) (562 Points)
24 January 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(169422 Points)
Replied 24 January 2022
In either case it is exempt as per sec. 56(2) of IT act..
sabyasachi mukherjee
(27167 Points)
Replied 24 January 2022
CAclubindia
