Relatives u/s 56(2)(vii) from whom Gift is permissible......

Page no : 2

CA Karan Kapoor (unemployed) (31 Points)
Replied 11 January 2011

heres the download, just in case anybody needs it.

i would suggest u to just try and make the same picture twice by using a rough hand, and that would be enough.


Attached File : 57 relatives.rar downloaded: 350 times

B S BHMRA (Managing Partner) (102 Points)
Replied 19 January 2011

"Do gifts both in cash and kind are taken into account, and what is the upper limit for such gifts?"


CMA. CS. Sanjay Gupta ("PROUD TO BE AN INDIAN")   (114225 Points)
Replied 19 January 2011

Originally posted by : B S BHMRA

"Do gifts both in cash and kind are taken into account, and what is the upper limit for such gifts?"

Yes both are exempt. No limit in case of gifts from relative.

For details see file from below link...

 

SYNOPSIS OF TAXABILITY OF GIFT


Ankur (fresher) (21 Points)
Replied 22 April 2011

please let me know can we gift agriculture land to our cousin brother, 


KIYOSH (TAX CONSULTANT) (332 Points)
Replied 22 April 2011

really

thank you for sharing



DHANVANT SHAH (TAX CONSULTANT) (25 Points)
Replied 25 February 2012

IS GIFT RECEIVED BY UNMARRIED GRAND DUGHTER OVER 18 YEARS OF AGE FROM HER GRAND MOTHER IN EXCESS OF Rs.50,000/- EXEMPTED UNDER INDIAN GIFT TAX ACT ?

DHANVANT SHAH

(MOB)(9980122779)


rahul vasant deshmukh (article) (32 Points)
Replied 11 September 2012

thank u sir

 


ramcharan (articled assistent) (367 Points)
Replied 12 September 2012

please let me know can we gift agriculture land to our cousin brother, 

A: no brother sec 56(2) does not include cousin brotheryou can gift it to your brother on the occation of HIS MARRIAGE


arita g (hr) (25 Points)
Replied 06 January 2013

Thanks for this clear format. 

 

Keep on sharing your valuable knowledge.

 

 


kavitha (studying final) (830 Points)
Replied 06 January 2013

Thanks for the info



anil (CA Job) (98 Points)
Replied 09 March 2014

In this list mothers brother I.e mamaji is not there..I this his wife is relative so he vl also be relative.

uday khatri (bhopal) (22 Points)
Replied 12 August 2014

Here the children shall be naturally born or adopted children are also covered ?

mahendrapanchal (proprietor) (22 Points)
Replied 08 November 2014

MY BROTHER HAS GIVEN ME RS 500000.00 GIFT BY CHEQUE IT IS TAXABLE OR NOT,

 


amit gupta (Accountant) (34 Points)
Replied 22 February 2016

Thanks Sir ji



CA.Yeshwant Mehta (President) (147 Points)
Replied 01 December 2016

Hi Mr.Sanjay, thks for the detailed info, how about gift from Nepew(sister's son) to Mama(sister's brother) or Mami(sister's brother's wife) ? 



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