Income Tax : Explore the guidelines for gifting shares and money from residents to non-resident relatives under FEMA and LRS, ensuring complian...
Income Tax : Explore the intricacies of a Gift Deed, detailing the transfer of shares with love and affection. Understand the legalities, assur...
Income Tax : आयकर रिकार्ड करने को सुलझाएँ किसी भी शादी मौके पर ...
Income Tax : Explore the intricacies of Diwali gift tax provisions in India. Uncover the exemptions, taxable scenarios, and asset consideration...
Income Tax : Tax treatment of gifts for individuals and HUFs, covering monetary, immovable, and movable property, exceptions, and COVID-19 reli...
Finance : he Bombay High Court ruled on Wednesday that no part of an ancestral family property can be ‘gifted’ away. The court in a land...
Income Tax : ITAT Delhi rules in favor of Anuj Sood in a case involving jewellery gifted during marriage, prior to a tax search action. Discove...
Income Tax : In Sharon Agarwal Vs ITO, ITAT Delhi deletes addition of cash gifts received from mother. Explore implications of this landmark de...
Income Tax : From gift deed it is crystal clear that the said property was gifted by assesee to his sister out of natural love and affection an...
Income Tax : It is pertinent to note that to meet the emergency situation of additional expenses by the assessee the assessee has obtained cash...
Income Tax : ITAT held that cash gifts received by the assessee from her brother and sister cannot be added as unexplained income under section...
Understand the legal and tax implications of gifting movable and immovable property. Learn about gift deeds, tax exemptions, capital gains, stamp duty, and registration requirements.
In Sharon Agarwal Vs ITO, ITAT Delhi deletes addition of cash gifts received from mother. Explore implications of this landmark decision
सामान्यतः हम यह पाते हैं कि व्यापारिक लेन-देन में किताबों में नगदी कम पड़ जाती है तो हम प्रोप्राइटर या पार्टनर के पूंजी खाते से निवेश बता देंते है. इनके खाते में पैसा कहां से आया, इसके लिए हम माता पिता या रिश्तेदारों से निजी उपयोग के लिए गिफ्ट बता देते हैं जो ज्यादातर कैश […]
From gift deed it is crystal clear that the said property was gifted by assesee to his sister out of natural love and affection and it was in this back drop that assessee claimed before CIT(A) that incidence of transfer of immovable property was not liable to tax in his hands.
It is pertinent to note that to meet the emergency situation of additional expenses by the assessee the assessee has obtained cash not only from assessee’s father and mother but also the close relative i.e. the maternal uncle, maternal aunt as well as paternal uncle and paternal aunt and the said relation cannot be doubted by the Assessing Officer.
Gifts in India are cultural aspects handed down from generations. Learn the in-depth analysis of taxation of gifts and how lawmakers are trying to tackle the issue.
Discover the comprehensive list of relatives covered under section 56(2) of Income Tax Act, 1961. Find out who is exempt from tax on gifts and transfers.
ITAT held that cash gifts received by the assessee from her brother and sister cannot be added as unexplained income under section 69A.
ITAT Ahmedabad cancels penalty on Anisha R. Dhanani. Unexplained cash credit addition lacked accurate particulars. Bona-fide explanation considered.
There is no prohibition for the NRI for accepting the gifts from the relatives. In the absence of any prohibition, no adverse inference can be drawn against the assessee based on the prevailing system in the society.
