it assessess cash gift from brother rs:20 lacs dt:14-12-22 through bank mode received after same date cash gift to son rs:10 lacs and cash gift to daughter rs:10 lacs payment through on bank mode pay.
question:
two gift transactions same date accepted in it act
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Receipts and payments gift transaction allowed
Replies (2)
Yes, all the above referred gift transactions by banking channel accepted.
These are not taxable.
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