My sister got a cheque of 200000 on her marriage from her friend. As per my knowledge gift receive …
My sister got a cheque of 200000 on her marriage from her friend. As per my knowledge gift receive from non-relative is taxable. How much tax does she need pay on such gift amount?
Jeeba Jun. 14, 2018
She is not liable to pay tax on this gift amount of 200000 from her friends.
As per the law, when the aggregate amount of gift received from non-relatives exceeds 50000, it is taxable. However, this condition is not applicable for the gift received on a marriage of an assessee.
So your sister does not need pay tax on such amount of gift even though this amount is in excess of the limit of 50000.
