Menu
Gift tax
IF ANY PERSON TAKES RS.50 LACS WORTH PROPERTY BY WAY OF GIFT DEED THROUGH REGISTRATION FROM SISTERS SON, HOW IT WILL TREAT FOR GIFT TAX. WHETHER IS IT TAXABLE OR NOT. PLEASE CLARIFY IN DETAIL.
Replies (2)
It's taxable under head capital gain. Gift received is having worth more than Rs. 50000 and sister's son don't fall under the category of relative.
Yes, It is taxable but not under capital gain head.
Such income would be taxable in the year in which the gift is being received and taxable under head income from other sources.
Recent Threads
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
- Taxation for sale and purchase of REIT shares
- PAN - AADHAR LINK
- RECONCILIATION OF GSTR 2B Vs BOOKS WITH VBA
- Regarding cancellation of GST Number
- GST on business receipts pre -registration
- A Restaurant registered under the Composition Sche
Related Threads
CAclubindia
