Income Tax : SEO Description: Explains which gifts qualify for exemption based on the statutory definition of “relative” and why not all fa...
Fema / RBI : Learn the FEMA rules governing gifts of money, shares, and property to non-residents, including documentation, valuation, and repa...
Income Tax : Understand the tax treatment of monetary, movable, and immovable gifts received by individuals and HUFs. Learn the ₹50,000 thres...
Income Tax : Summary of taxability of gifts under the Income Tax Act for individuals and HUFs—covering monetary, movable, and immovable gifts...
Income Tax : Gifts received from specified relatives are fully exempt from income tax under Section 56(2)(x). Learn the definition of 'relative...
Income Tax : The tribunal held that a gift deed alone cannot establish legitimacy under Section 68. It directed fresh scrutiny of the donor’s...
Goods and Services Tax : Gifts up to a value of Rs 50,000/- per year by an employer to his employee are outside the ambit of GST. However, gifts of value m...
Income Tax : The existing provisions of section 56(2)(vii)(b)(ii) provide that where any immovable property is received for a consideration whi...
CA, CS, CMA : Suggestions on Draft Rule 11UA of Income-tax Rules, 1962 Accepted: I am happy to inform you that our suggestions have found favour...
Income Tax : Actress Priyanka Chopra and photographer Atul Kasbekar will pay income tax on some undisclosed transactions. Priyanka will pay tax...
Income Tax : The ITAT set aside the CIT(A)’s order taxing Rs. 10 lakh received from HUF, emphasizing verification of the gift and HUF status ...
Income Tax : ITAT Chandigarh ruled that cash gifts from close relatives, supported by affidavits and audited accounts, cannot be treated as une...
Income Tax : ITAT Agra deleted additions on gifts received from real sisters, holding that when identity, genuineness, and creditworthiness are...
Income Tax : ITAT Delhi set aside an unexplained cash addition of ₹3.5 Lakh, ruling in favor of the assessee who received a gift from her adu...
Income Tax : ITAT Kolkata deletes Rs.8.5 lakh addition for cash gift against Abdus Sattar. Tribunal ruled that the donor's capacity must be jud...
Income Tax : CBDT issued Income Tax Circular No. 04/2022 on 15th March 2022 and explained all provisions related to deduction of Tax At Source ...
Corporate Law : The depository participants have been permitted to operate in GIFT-IFSC in terms of the applicable provisions under SEBI (Internat...
Income Tax : Amendment in Rule 11U and 11UA omitting reference to the term accountant, thereby permitting only merchant bankers to determine th...
Fema / RBI : In exercise of the powers conferred by sub-section (1) and clause (a) of sub-section (2) of section 46 of the Foreign Exchange Man...
Explore detailed rules and exemptions of gift taxation in India under Income Tax Act, 1961, including classification and tax implications for different types of gifts.
Explore the rules and regulations surrounding gift taxation in India. Learn about taxable gifts, exemptions, and ways to comply with the Income Tax Act.
The recent ITAT Delhi decision in the case of Karamveer Singh Vs ITO emphasises the non-taxability of immovable property bought through funds gifted by relatives. Explore the case’s specifics, implications, and outcomes here.
Uncover the legal complexities and SEBI regulations involved in the process of gifting shares by promoters of listed companies. From detailed analysis to the obligatory disclosures, get informed about it all.
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.
Unravel the tax implications of gifts received during weddings in India. Explore the Income Tax Act’s provisions on gift taxability, exemptions, and specific categories like gifts from relatives and non-relatives. Gain insights into case studies illustrating tax exemption scenarios for gifts during weddings. Learn the importance of documentation and compliance to navigate the tax landscape confidently. Connect with a Chartered Accountant for personalized advice on managing tax implications for gifts during weddings.
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 […]
ITAT Surat held that gift received from HUF cannot be added back to the total income of the assessee being Karta (Manager) of such HUF.
The act of company gifting an immovable property is frequently interpreted as a gesture of goodwill or appreciation towards an individual or another entity. However, before engaging in such a transaction, it is critical to understand the legalities and implications.
