Search Results For: cash gift


QUERY: ‘X’ has taken one lakh rupees as a Cash Gift from his own brother’s son, whether taxable or not?
ANSWER: Click here to read the full answer of the expert
EXPERT:
SECTION(S): ,
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CATCH WORDS: , ,

Section 56(2)(vii) of the Income tax Act, 1961 reads as under:

“Where an individual or a Hindu Undivided Family receives, in any previous year, from any person or persons on or after

QUERY: ‘X’ has taken one lakh rupees as a Cash Gift from his own brother’s son, whether taxable or not?
ANSWER: Click here to read the full answer of the expert
EXPERT:
SECTION(S):
GENRE: ,
CATCH WORDS:

Section 56(2)(vii) of the Income-tax Act, 1961 reads as under:

“Where an individual or a Hindu Undivided Family receives, in any previous year,