Gift from brother on birthday taxable & max limit?

wilson desai (Querist) 13 July 2012 This query is : Resolved
gift received from real brother(via cheque) on birthday is taxable ? & whats the max limit In a financial year?

Follow Query

Report Abuse

A V Vishal (Expert) 13 July 2012
Not taxable, no limit

wilson desai (Querist) 13 July 2012
someone told me 50000 is the max limit in a fin year

Nadeem Qureshi (Expert) 15 July 2012
agree with Mr. Vishal

prabhakar singh (Expert) 15 July 2012
"someone told me 50000 is the max limit in a fin year" applies to gift from strangers,those who are not classified as relatives.

Here the Gift is from a relation,real brother,hence not taxable as rightly told by Mr.Vishal.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries

Bangalore-us-rts(?)-digikey-fedex-moneystuck!
Consumer / contract dispute
Harrasement and metal agony from husband
Applicability of po act
Nps to old pension scheme
Suit filed by heirs claiming ancestral property
Hindu succession query
Application for final decree after preliminary decree
Application for final decree after preliminary decree
Application for final decree after preliminary decree

Regular matters
Request for second opinion in bar council proceedings
Reinforcing rule-based adjudication in proceedings
Awaiting the shrewd advocate's answer.
Pl. check for legal accuracy
Legal notice used for harrasment
Is advocate guilty?
Advocate�s duty to justice apply to the pre-litigation ?
Legal opinion on baseless legal notice and law
Dismissals due to defective legal notices