taxation of gifts

sonal (student) (76 Points)

18 March 2011  

Here are the few independent problems from sec.56(2)(vii).Plz give d tax treatment of all d followin:-

1)A gifts B jewellery and a painting during d p.y.10-11 having FMV of Rs. 30000 each.

2)A gifts jewellery to B and C gifts painting to B having FMV of Rs. 30000 each.

3)A gifts jewellery to B whose FMV is Rs. 30000. A gives painting of FMV Rs. 30000 at Rs. 2000.

4)A gives jewellery and painting at Rs. 5000 and Rs. 2000 respectively. FMV is Rs. 30000 each.

5)A gifts B jewellery and a land during d p.y.10-11 having FMV of Rs. 30000 each.

6)A gifts Rs. 30000 and jewellery whose fmv is Rs. 30000 each.

Plzz rply...