#Gift
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206 articlesCA, CS, CMA
CA, CS, CMA
ICAI President’s Message – January 2013
Income Tax
Income Tax
Foreign gift may be treated as undisclosed income on the basis of Confession before FERA Authorities
Income Tax
Income Tax
No addition u/s 68 for gift from close relative who confirms the gift and was man of means
Income Tax
Income Tax
In case of foreign gift, Assessee to prove Credit worthiness of donor
Income Tax
Income Tax
Section 56 not Applicable to Gift in Kind Received prior to 1st Oct., 2009
Income Tax
Income Tax
In case of gift burden is on assessee to prove financial capacity of Donor -SC
Income Tax
Income Tax
Gift – Addition justified if Assessee fails to prove financial capacity of Donor
Income Tax
Income Tax
Merely on the ground that local purchase bill or custom clearance receipt not produced, genuineness of gift cannot be disputed
Income Tax
Income Tax
Addition for Gift recd not warranted if Assessee proves identity, credit-worthiness and genuineness of donor
Income Tax
Income Tax
Owning of Pan,filing of return, Payment through banking channel not a conclusive proof that, the gift is genuine
Income Tax
Income Tax
Gift Received by the Assessee on the ocassion of his Daughters Marriage is taxable
Income Tax
Income Tax
Priyanka to pay Income Tax on Rs 6 crore and Kasbekar on Rs 4-crore
Income Tax
Income Tax
Income Tax department asks Shah Rukh Khan to pay tax on villa gifted by Dubai Co
Income Tax
Income Tax
