Taxation of gifts

Tax queries 580 views 1 replies
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Articled assistant
117 Points Joined December 2008

Is it possible for a company to gifts its investments to a relative of a director or the director himself?

 

If yes, what are the tax implications?

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On 01 February 2013 at 02:17 Report
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i dont know whether is it possible for company to gift its investments to director or his relative

but as far as taxability of that gift,

those gifts  will be taxable in the hands of director or his relative as the case may be, if the fair market value of the gift exceeds Rs 50000/- as per section 56 (2)(vii)(c)(i)

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On 01 February 2013 at 17:47


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