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Anuj Gupta

Latest Posts by Anuj Gupta

Sec. 56 Tax Treatment of Gifts Received by An Individual or HUF

June 11, 2018 15342 Views 6 comments Print

Monetary Gifts Any sum of money received without consideration (i.e., monetary gift may be received in cash or in kind i.e. cheque, draft, etc.) by an individual/ HUF will be charged to tax if the aggregate value of such sum of money received during the year exceeds Rs. 50,000. A. Cases in which monetary gift […]

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