With reference quote in Budget 2017-18 "Money, immovable property or specified movable property worth over 50k received as gift or for inadequate sum to be taxable" is there any changes in Gift Tax for gifts from Relatives ?
2 Replies
Nikhil Sharma
(Government Service)
(539 Points)
Replied 03 February 2017
No amendments in the gifts received from relatives.
But they have enlarged the scope of the section 56(2) by applying it to all assesses. Earlier it was only applicable to individual, huf, firm, company.
Recent Topics
- Form 3CEAB
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
- ITC reversal in GST 3B
Related Threads
CAclubindia
