Gift tax queries india??????????
i have read somewhere in mr subhash lakhotia's book that if i want i can take gifts of mutual funds or shares from non-relatives without any upper limit.is this true?if it is true then is not it a very easy way to get black money changed into white?
2007-02-09 01:27:35 · 4 answers · asked by sufiesidhi 1 in Business & Finance ➔ Taxes ➔ India
What you read is not correct. Now the gifts are taxable after certain amount. Please read the article in the web link given below.
http://www.rediff.com/money/2006/aug/04tax.htm
2007-02-09 17:45:16 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Capital income calculations are for that commercial 3 hundred and sixty 5 days. For no longer attracting capital income tax, you are able to reinvest in yet another sources even though it has shrink of one 3 hundred and sixty 5 days forward or backword. Please seek for suggestion from good CA for this. approximately giving equivalent proportion to the two daughters, you are able to point out comparable on your will. Alternately you may purchase 2 diverse homes with your call FIRST and different call of your daughter. Then those homes will bypass to them respectively when you and paperwork would be decreased.
2016-11-02 23:36:42 · answer #2 · answered by bonanno 4 · 0⤊ 0⤋
I am retired person and not getting any salary income. However,I am receiving pension. I am also receiving interest on deposits.. Last time I filed e filing itr V. and there is tax payable also for last years. Pl. suggest what to do.
2015-04-30 21:29:25 · answer #3 · answered by avi hitler 1 · 0⤊ 0⤋
http://www.surveyspaysu.com?id=114153
2007-02-14 16:14:57 · answer #4 · answered by Sanjay Bhavsar 1 · 0⤊ 0⤋