Dear All First HAPPY NEW YEAR 20011
I want to know that can we take exmpt on income tax on gift given by company(pvt.ltd.)
2 Replies
CA Khushboo Agrawal
(CA )
(1811 Points)
Replied 01 January 2011
co can't give gift so there is no Q of exemption.
but can can give donation which is exempt, ( nature of exemption depends upon nature of donation)
muraligopoavarapu
(article student)
(63 Points)
Replied 01 January 2011
HI happy new year
if assesse takes gift from private company , it will taxble in the hands of assesse if the amount of gift is above 50000 in total finacial year.
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