Gift transaction clubbing provision applicable
Kollipara Sundaraiah (B.com) (2983 Points)
17 February 2024question:
1.Gift transaction clubbing provision applicable
2.Gift amount used purpose any objection.
Kollipara Sundaraiah (B.com) (2983 Points)
17 February 2024
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 17 February 2024
Saravanan nagaraj
(463 Points)
Replied 18 February 2024
When transfer money through banking it is not considered as a cash gift.
Both brothers have to declare these transaction details in their Income tax return.
Repay his liabilities. His brother shows fund proof of this. No taxable.
When buy a property or any investment in these amount. His brother subject to taxable when sell that property.
sabyasachi mukherjee
(27574 Points)
Replied 18 February 2024
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 18 February 2024
sabyasachi mukherjee
(27574 Points)
Replied 19 February 2024
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 19 February 2024