my sister is 19 yrs old an engineering student. She got a prize /gift in a lucky draw a TVS pep which costs Rs.36,000.
We thought that amount of scooty is less than 50,00 so we are not liable to pay any tax...........but now those authorities are asking us to pay a gift tax of 30% on the price of Scooty.
can anyone help me with this?? Are we liable to pay tax?