Please check your email for the OTP, if not received please refresh the page and try again, also check your spam folders.
Answer: Monetary gifts received by an Individual or HUF is exempt only if the aggregate amount of gifted money in a financial year does not exceed Rs. 50000.
But if it exceeds Rs. 50000, there is no exemption and the full amount is chargeable to tax.
For example, if Ram receives Rs. 90000 from his friend in a year, then the full amount of Rs. 90000 will be chargeable as other income of Ram.
Date Posted 29-Dec-2019
Posted By Kumar Prakash
Views: 728
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Up to when we can expect the new Income tax forms for FY 2019-20.
Date Posted 26-Apr-2020
Comment / Read More
Download APP
