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.)
ASHOK KUMAR MUNNATAXCONSULTANT (DIRECTOR) (234 Points)
01 January 2011Dear 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.)
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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