watch_later 04/07/18

Sir,

I.t.assess cash gift from father and mother  rs.1+1=2 lakes received different dates.

1) gift amount taxable or exempted.

2)two gifts received allowed one finicial year.

1 Response | Latest response: 07/07/18 | Sort by Likes(thumb_up) Recent | Income-Tax Reply
watch_later 07/07/18

Gifts from relatives are exempted under Income Tax.

You have received from your parents so there is no income tax liability.

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