8 months ago
Gift transaction taxable or exempted (A female it assess cash gift to mother rs:10 lacs through on online mode pay after mother some amount rs:4 lacs gift to son through on online mode pay. Question: Above gift transaction taxable or exempted in it act.)
CA Simoni Sanghvi Gift received from relatives are exempt from tax and mother and son comes under the definition of relatives under the Act
8 months ago