Used gold ornaments-gift

Sowmya S (CAO) (214 Points)

01 February 2013

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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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
	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

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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