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Apu (Officer)     09 November 2018

Pay gst/tds on income from cash gifts at marriage

Dear Sir,

Does one have to pay tax on total cash received as gifts on marriage day?



Learning

 5 Replies

Kumar Doab (FIN)     09 November 2018

Income Tax Act

Amendment of section 56.

29. In section 56 of the Income-tax Act, in sub-section (2),

(c)

(II)                         on the occasion of the marriage of the individual;

1 Like

Kumar Doab (FIN)     09 November 2018

However IT shall be appropriate to egt either by cheque/DD and/or document everything and obtain proepr advice from Income Tax Consultant.

You may take help of elders of your family, competent and experienced well wishers, seasoned PIP’s, helpgroups, community leaders, NGO’s, experienced colleagues, associations, etc to resolve the matter if any, and/or  find a very able LOCAL counsel/CA specializing in concerned filed of law e.g; GST/Income Tax matters as in your case, and well versed with LOCAL applicable rules, precedence, latest judgments etc …. and worth his/her salt, can advise you and even help you.

Online discussions are not substitute to in person discussions with a very able counsel of unshakable repute and integrity specializing in concerned field of law.

There are such very able counsels at each location.

Check for such counsels at LOCAL e.g;, ITAT/Civil courts, HC, SC …

KAUSHAL SHAH   30 December 2018

1) Gift received in cash over rupees 50,000 by the bride 👰 and the groom 🤵 from any person other than the relative is subject to tax in the hands of recipient. 2) However the gift received on the occasion of marriage from the relatives and below rupees 50,000 is exempt from tax.

KAUSHAL SHAH   30 December 2018

1) Gift received in cash over rupees 50,000 by the bride 👰 and the groom 🤵 from any person other than the relative is subject to tax in the hands of recipient. 2) However the gift received on the occasion of marriage from the relatives and below rupees 50,000 is exempt from tax.

KAUSHAL SHAH   30 December 2018

However this law is applicable only in India and not for the abroad countries.

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