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awadhesh khadiwala (secretary)     17 December 2018

Tax on gifts

sir on the occasion of engagement of my son girls father gave gifts in cash and kind he is also willing to gift a piece of residencial land what is taxable my son files ITR and he is tax payer



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 2 Replies

Kumar Doab (FIN)     17 December 2018

Consult with your ITax counsel in person and obtain proper documents as opined and adviced by your counsel.

Your own very able LOCAL counsel can examine the new tax return forms and need of disclosure and also stamp duty needed for duty and advice properly.

 

Kumar Doab (FIN)     17 December 2018

In the meantime go thru;

Income Tax Act

F.—Income from other sources

 

Income from other sources.

 

56. (2)

 

You may also go thru article under my profile and pick up relevant points;

 

"Spouse of employee in marital dispute can get copy of 'Dowry Declaration signed by employee'"


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