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gifts on marriage
my client was married 5 months ago . their relatives were comitted that gift of 10 cents of site. and they made gift agrement on same day but it was registered some months later for some reasons . so that gift whether exempted or not
Replies (5)
If it is received from Relatives then it is exempt irrespective of the fact whether it has been given on marriage or after that.
If it is received from Friends etc. then you have to prove that the Gift was given due to occasion of marriage only.
If it is received from Friends etc. then you have to prove that the Gift was given due to occasion of marriage only.
we have valid aggrement .
Sir,
Irrespective of the date of registration, gift received on occasion of marriage is exempt whether it is received from relative or non-relative
Irrespective of the date of registration, gift received on occasion of marriage is exempt whether it is received from relative or non-relative
thank u mam for ur valauable responce.
If gift from relative then it's exempted otherwise if it's exceeding aggregate of rs 50000 then taxable.
Note:above provision is for gift without consideration.
Note:above provision is for gift without consideration.
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