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Query Details

Asked by namish on :Jun. 27, 2018

Are there any occasions other than marriage where…

Are there any occasions other than marriage where property received by an individual without consid…

Are there any occasions other than marriage where property received by an individual without consideration not chargeable to tax?

0

Jeeba Jun. 27, 2018

Any property received by an individual without consideration for the value exceeding Rs 50000 shall be chargeable to the tax.

However, if the property is received on the occasion of marriage, it is exempt from tax.

Further, there is no any occasion than marriage where property received without consideration is not liable to tax.

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