Dear Friends.
In case a assessee having income from salary being a director of a company and Having Profit froma propreitorship concern, Gives a cash gift to his children or recieves cash gift, or from his spouse.
Wat will the tax implication???
7 Replies
Amir
(Learner)
(4016 Points)
Replied 15 January 2010
DEAR ANSHUL,
GIFTS FROM RELATIVES ARE NOT TAXABLE......
CA. Anshul Bajaj
(Taxation Head)
(173 Points)
Replied 15 January 2010
AMIR Sir ansul nahi Hai Anshul Hai
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 15 January 2010
Also check the provisions regarding clubbing if gift received or made to spouse though the gift will not be taxable
CA.G.Muguntha Narayanan
(Internal Auditor at TVS Motors)
(2195 Points)
Replied 16 January 2010
Hi Anshul,
gifts from relatives are exepmt from the provisions relating to IFOS
anuj dhingra
(Accounts Executive)
(152 Points)
Replied 16 January 2010
| Originally posted by : Amir | ||
 |
DEAR ANSHUL, GIFTS FROM RELATIVES ARE NOT TAXABLE...... |
 |
C.Balaji
(Learner)
(1867 Points)
Replied 16 January 2010
Mr.Anshul
Gift from relatives is exempt from tax but
cash gift to Children (clubbing provisions may apply)
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