FOR INDIA'S BEST CA CS CMA VIDEO CLASSES CALL 9980100288 OR VISIT HERE
PREDICT YOUR RANK!
Answer below questions and predict your rank
  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

Mother and son relation for gift deed

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Shreyash asked over 4 years ago

Dear all, My friend whose mother was retired from Govt. service. She got money of Rs.13 lacs from her services. She wants to give 10 lacs to his son who wants to buy flat from that amount. Queries 1. Can his mother make gift deed o when she gives money to her son? 2. Is there any amount limit for gift deed as per income tax rule? 3. whatever amount will received by mother. Is it taxable to her son? Many thanks in advance

    0       0 Answer Now Comment Report
1 Answers
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Shreenath answered over 4 years ago

As per sec 56(2) of income tax act Any sum of money or kind received as gift from relatives will not be taxable at all means there is no limit specified for amount (gift) received by relative hence any amount received by relatives is not taxable....but it is advisable to you to make a gift deed for future reference.

    0       0 Comment Report
Get Notifications
Videos
Books
Notes
Loading
Watch best faculty demo video classes

These top faculty video lectures will
help u prepare like nothing else can.