What is Gift tax?

13 January 2024

Under which section Gift to family members, is exempted and how much?

Whether giver will get benefit or the receiver will?

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8 Replies

Sharath chandra (Accountant) (1227 Points)
Replied 13 January 2024

Section 56 .

the receiver will get the benefit in income tax.

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 13 January 2024

As per income tax sec 56(2)** gift received from relatives excempted.

Receiver is benefit...

sabyasachi mukherjee (27579 Points)
Replied 13 January 2024

Wrong section. quoted

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 13 January 2024

As per income tax sec 56(2)** gift received from relatives excempted.

Receiver is benefit...

sabyasachi mukherjee (27579 Points)
Replied 14 January 2024

** is not sec abbreviation

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 14 January 2024

Originally posted by : sabyasachi mukherjee
	** is not sec abbreviation

Ha Ha Ha Ha Ha Ha Ha Ha...

Warray wahh, What a brilliant knowledge...

Well done Mukherjee...

sabyasachi mukherjee (27579 Points)
Replied 14 January 2024

We will discuss about it later on

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 14 January 2024

Really...!!!

What thinks I diacuss with You and Your knowledge...???

Please educate me Mr expert....

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