sec 56(2)

Tax planning 453 views 1 replies

An assessee received a cheque of Rs 1100000 from non relative without any consideration on 01/04/2009.

whether this amount is chargable in the hands of the assessee?

Replies (1)

yes govind it is taxable in the hands of assessee.gift received on 1st april is irrelevant here since the cash gift was taxable before than 30sep.09 and after that it is taxable under new section.

regards

tarun rustagi


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register