Dear All,
Whether used gold ornaments gited by a mother to her daughter attracts any tax?
Plz do let me know at the earliest.
Thanks & Regards,
Sowmya.S
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Used gold ornaments-gift
Replies (2)
| Originally posted by : Sowmya S | ||
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Dear All, Whether used gold ornaments gited by a mother to her daughter attracts any tax? Plz do let me know at the earliest. Thanks & Regards, Sowmya.S |
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Gift given by a relative as per income tax will not attract any income tax.
HELLOO.......
NO TAX WILL BE LEVIED IN INCOME TAX.........AS PER SEC 56, GIFT GIVEN TO RELATIVES ARE EXEMPTED (MOTHER COMES IN THE DEFINATION OF RELATIVE )
thanks.....
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