Sales of Agriculture land
Rajat Sharma (498 Points)
19 July 2022Rajat Sharma (498 Points)
19 July 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170798 Points)
Replied 19 July 2022
You can give this amount by cheque or NEFT, without any tax liability.
Make a gift deed for future need, if any.
Rajat Sharma
(498 Points)
Replied 20 July 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170798 Points)
Replied 20 July 2022
No gift tax liability when the amount is received from close relative, as per sec. 56(2)(x) of IT act.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)