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
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 01 February 2013
| 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.
shikhar
(LEARNER )
(1394 Points)
Replied 01 February 2013
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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