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Income Tax On gift Money | How much money is tax free in gift | Section 56 of income tax act 2023




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Information Income Tax On gift Money | How much money is tax free in gift | Section 56 of income tax act 2023


Title :  Income Tax On gift Money | How much money is tax free in gift | Section 56 of income tax act 2023
Lasting :   12.30
Date of publication :  
Views :   92 rb


Frames Income Tax On gift Money | How much money is tax free in gift | Section 56 of income tax act 2023





Description Income Tax On gift Money | How much money is tax free in gift | Section 56 of income tax act 2023



Comments Income Tax On gift Money | How much money is tax free in gift | Section 56 of income tax act 2023



Padmaja Mhatre
Shares kitne amt Tak beto ko gift kar sakte hai?
Comment from : Padmaja Mhatre


Mukesh Soni
Sir muje Jan 2023 me meri marriage par mother se jewellery gift mili he to kya me use sale karu tab muje capital gain dena padega?
Comment from : Mukesh Soni


Ramkishun
Wife ko हाई वेलयू पैसा कैश में खाते मे दिया।क्या लीगल है
Comment from : Ramkishun


Mlbb Chippy Gaming
Due to illustration 2 125200 and on 84000 rs 193200 is taxed cause he has already received 184000 earlier
Comment from : Mlbb Chippy Gaming


008mcom4Sxc Sxc
Only 84000 from his friend residing in Delhi of Illustration 2 willl be taxable
Comment from : 008mcom4Sxc Sxc


Indro Mukherjee
Mother transferring 70 lakhs to son or daughter account in a year as a Gift , tax free hain kya???
Comment from : Indro Mukherjee


INSTA MAN
Mother se kitna gift le sakte hai?
Comment from : INSTA MAN


joginder kumar
I am in the job and paying tax brNow my son has started job and he also paying taxbrMy question is that my son transfer s money to me in on monthly basis in to my accountbrWill this amount taxable or it is necessarily to make gift deed every month or not
Comment from : joginder kumar


Bibhutibhusan Bhoi
Govtemployee service period me death hone par jo amount( GPF etc) nomine ko milta he us par tax lagta he sir please suggest me
Comment from : Bibhutibhusan Bhoi


Kunwar Hirendra Pratap
My father sold out his old house and I have received some amount from them Will I have to pay tax on it
Comment from : Kunwar Hirendra Pratap


Abhishek Bhardwaj
Qus 1 answer is total received amount is tax free brQus 2 answer - only 84000 par tax dena hoga
Comment from : Abhishek Bhardwaj


Dani Ram Sharma
Tax free total
Comment from : Dani Ram Sharma


the blocker of hell
my Married daughter Gifted Some Money Above Rs 50000 To My Minor Grand Son,( her Real Brothers son ) in Dec 2022 brKya Ise Stamp Paper Pe Deed Karna Hoga Ya Plain Paper Kafi HogabrY Grand Son will Become Major on 5 Th December 2023 Is Se Intt Income for F Y 23 24 Bhi Kya Guardian Mother Ki Income Me Judegi Ya Wo Apne Return Me Dikha Sakega
Comment from : the blocker of hell


ftShyam
illustration 1 25000 , and 18000 are both exumpt because below than 50000 in one year, illustration 2 184000 is taxable because limit exceeds 50000, 125200 is exumpt because this gift from blood relative, 84000 is taxable because limit is 50000
Comment from : ftShyam


Narendra Kumar Mathur
Agar plote sale karke son ko 15 lac gift kiya jay to kya tax liability hogi ya or koi tarika hai tax save karne ka
Comment from : Narendra Kumar Mathur


ramgopal Kanteti
My two NRI sisters 4l each and my father will give anew Car on the occasion of my house warming ceremony Any tax problem for me or to them? They have sent Money to my father
Comment from : ramgopal Kanteti


Abhishek Singh
Sir 🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏
Comment from : Abhishek Singh


Sudarshan Deo
Thanks
Comment from : Sudarshan Deo


Ps Pal
Q1 Both Tax Free
Comment from : Ps Pal


hussain
recently my father passed away,after which i received his bank fixed deposits into my account Now please guide me when i will file my itr 1 do i need to disclose this and if yes in which section? also under which section inherited money is exempted can income tax department ask any documents from me please advise
Comment from : hussain


Manohar Chavan
Gift from relative is tax free
Comment from : Manohar Chavan


nandika nikam
Muze mere bhaise ]roperty sellse ayehuye paisese 1000000 transfer kiye the jo maine govbondme 5 years ke liye invest kiye ab mechurity ke baad kya vo taxable hota hai ?
Comment from : nandika nikam


nikhil howal
I have got a few sneakers for myself, friends and family I will be travelling from Australia to India this month, almost after around 2 years Do I have to pay taxes on those ? brAnd how much would it be ?
Comment from : nikhil howal


Raman Parab
Lucky draw me Car 65 laks plus ➕ cash 4 laks milata hai to tax kaise aur brKitana lagega
Comment from : Raman Parab


Pawan Loharuka
Q 1 taxable income Rs 18000/-
Comment from : Pawan Loharuka


Tushar Sharma
Can a resident Indian receive foreign currency amount as a GIFT? What's the maximum amount that can be received in this way? What are the taxation rules for the same?
Comment from : Tushar Sharma


Micro Tech
Voice of Mr Ashish is very low in every video and even not clear many times Please take care of that as well Good video though
Comment from : Micro Tech


Omkar deshmukh
Taxeble job holer unmarried daughter ko flat Lene per retired father daughter ko 5 L dena Chahta hai,kya kare ki income tax Ka lafda na ho,daughter ko tax Nahi dena hoga,kitana amount de sakte,pl simple idia bataye
Comment from : Omkar deshmukh


Dharamvir Singh
Apni bhen k sas sasur se kitne rupees gift k roop me le skte h jo tax free ho
Comment from : Dharamvir Singh


Atul Kumar
What is huf
Comment from : Atul Kumar


Girish Matte
(1) Tax free (2) brother money is tax free and friend total money maximum 50,000 tax free and other amount is taxable
Comment from : Girish Matte


APRAMYA THAKKAR
Illustration 18000 taxable
Comment from : APRAMYA THAKKAR


APRAMYA THAKKAR
50000 per year tax free per per person
Comment from : APRAMYA THAKKAR


Tourist Guide
My daughter is living abroad and send me 60000 every month for our livelihood is it taxable
Comment from : Tourist Guide


Nilay Kishore
I have received flat gift from my father via gift deed, The amount shown in AIS is market rate so what capital should i add in mine & remove from my father 's BS eg my father purchased at 50k but now market value is 10 L Should I add capital of 50k in my BL which is the original cost or 10 L that is seen in AIS ?
Comment from : Nilay Kishore


S Sharma
Can a grandfather gift to his grand daughter
Comment from : S Sharma


Simarjit
sir parents se mili gift money ko itr mein disclose karna zaroori hai kya ?
Comment from : Simarjit


Jagdish Arora
If I get Rs 40 lakh from my son what are the tax implications What documents are required
Comment from : Jagdish Arora


Kusum Jasuja
My mother transferred some money to my bank accountdoes it come in gift category?
Comment from : Kusum Jasuja


amit wagle
SirI want to transfer my flat in Pune from my name to my sister's name Is there is any way to save stamp duty?
Comment from : amit wagle


SUNIL KUMAR Wadhi
Gift by me to legally adopted daughter of my real sister is taxable or not?
Comment from : SUNIL KUMAR Wadhi


Piyush Agrawal
Pl
Comment from : Piyush Agrawal


MSVM CLASSES
250000 ka gift foreigner friend se indian ko mile mobile jewellery etc par tax lagega ya nahi
Comment from : MSVM CLASSES


SISIR KUMAR Acharya
Illustration 1: No Tax payable the Amount Rs 25,000/- is fully tax free because Marriage Purpose And the Amount Rs 18,000/- is fully tax free because less than 50,000/-brIllustration 2: No Tax payable the Amount Rs 1,84,000/- is fully tax free because the Amount less than 2,00,000/-brAnd the amount Rs 1,25,200/- + 84,000/- both are fully Taxable because both are Amount more than 50,000/-
Comment from : SISIR KUMAR Acharya


Sarita Pandey
Illustration 1:-brbr25000 will be exempt in the hands of Mr Raja because marriage is covered under exceptions given in sectionbrbr18000 will also be exempt because it does not cross the limit of 50,000brbrIllustration 2 :-br184000 will be exempt because it is received in occasion of marriagebrbr125000 will be exempt because is received from relativebrbr84000 will be taxable because it is not covered under any exception and in addition it is also crossing the 50,000 limit
Comment from : Sarita Pandey


JP Khetan
What is gift tax on a gift to NRI SON residing in USA
Comment from : JP Khetan


Dreamer FlasH
How to show ppf interest on itr 3
Comment from : Dreamer FlasH


Prabha Uchil
ways to invest gift received by children in monetary from parents on sale of their property
Comment from : Prabha Uchil


dabari kanada 1@youtubucom
2taxAble
Comment from : dabari kanada 1@youtubucom


dabari kanada 1@youtubucom
1no tax
Comment from : dabari kanada 1@youtubucom


sagar wani
Crypto currency gift kar sakte hai kya koi tax pay karna padega
Comment from : sagar wani


Mog Gom
sir agar delivery partner ku referral amount milta hai kya wo taxable hai?
Comment from : Mog Gom


dev sonu
Sir bade bhai se kitne paise lene se tax nhi aayega
Comment from : dev sonu


S K Garg
Tax free 1
Comment from : S K Garg


Sheel Kumar
Rs 1,84, 000/- & 125000/- on the occasion of marriage is tax free 84,000/- on birthday is taxable as it exceeds 50, 000/- Rs 25, 000/- & 18000/- both are tax free as it is within limits of 50000/- Please confirm answer
Comment from : Sheel Kumar


Sheel Kumar
Thanks
Comment from : Sheel Kumar


Sant Singh
Is saving account interest income???
Comment from : Sant Singh


Trinsi Vadadoriya
Illustration 1 : fully excemptbrIllustration 2: 84000 are taxable
Comment from : Trinsi Vadadoriya


Rajani Pawar
Sorry it will corrected always
Comment from : Rajani Pawar


JETHU SINGH RAJPUROHIT
अभी msg aaya ki २०k se जायदा होंगे तो १० टीडीएस देना होगा।।brयह क्या गंदा मजाक हैbrकम से कम ५०के होना चाइए हम छोटे रिटेलर को टारगेट किया जा रहा है।brइन गिफ्ट के लिए है तो माल बिना जायदा फायदे बच कर टारगेट अचीव करते है।।brकम से कम ५ok karna cahiye govt ko
Comment from : JETHU SINGH RAJPUROHIT


Himat Patel
In Case 1 - Total gift Tax FreebrIn Case 2 - Only 34,000/- Gift Income Taxable (Basic Exemption of 50,000/-)
Comment from : Himat Patel


TJ 007
Question 1: no tax because the amount is less than 50000 brQuestion 2 : 125000 is tax free as it was given by his relative and 184000 is also tax free as it is from marriage but should have to pay tax on 84000 because it is received from friend and is more than 50000
Comment from : TJ 007


Anil Rupani
Blood relation vale brother ki free tax
Comment from : Anil Rupani


Anil Rupani
10000 1 st question of answer
Comment from : Anil Rupani


Anil Rupani
Best 👌
Comment from : Anil Rupani


RPRB
Second question -184000 is taxable because he crossed the 50000 limit and gifted by friend,84000 also taxable reason same
Comment from : RPRB


RPRB
First question -18000 are taxable because he gifted for housewarming party and 25000 are tax free because this gift for marriage and do not cross the limit 50000
Comment from : RPRB


Valentina Machado
i am NRIone of my close friend she is getting married sooni have decided to give her 50 lakhs cheque on her wedding day as giftwhat precautions i need to take? and will she need to pay tax on it?
Comment from : Valentina Machado


RAHUL BHARDWAJ
First question 18000 taxable brSecond question 84000 taxable
Comment from : RAHUL BHARDWAJ


Sujal Omar
I am 18 years old, If my father gives me a big amount as gift, will it be taxable in any manner - to him or to me ? brprovided that I will invest the amount somewhere in my pan card name
Comment from : Sujal Omar


Vipul Shah
sirbrbr1) Father Gift Share to Major daughter (22 yrs - Student) & Dividend income generate from the gift stock is clubbling with Father income ?
Comment from : Vipul Shah


Vipul Shah
sirbrbr1) Father Gift Share to Major daughter (22 yrs - Student) & Dividend income generate from the gift stock is clubbling with Father income ?
Comment from : Vipul Shah


Vipul Shah
sirbrbr1) Father Gift Share to Major daughter & Dividend income generate from the gift stock is clubbling with Father income ?brbr2) Husband Gift Share to spouse & Dividend income generate from the gift stock is clubbling with Husband income?brbr3) Individual Gift Share to HUF Account & Dividend income generate from the gift stock is clubbling with Individual income ?brbrAwaiting your reply
Comment from : Vipul Shah


priya ramani
Pls make video on gift deed against property
Comment from : priya ramani


Sushma Salwan
Sir pls tell how a donor show rs 50000 gift given to parents in income tax form ie in ITR 1 pls tell under which we can show this gift in case of donor
Comment from : Sushma Salwan


Rammanohar Rao Ch
Sir My brother in law is a citizen of America He wants to send 5 lack rupees by transfet to my wife ( His sister) for her personal usage as gift Please clarify whether she has to pay any income tax
Comment from : Rammanohar Rao Ch


Vikram Goyal
Sir can you pls clarify whether money gift received from Mother/ Father in law is tax free or not?
Comment from : Vikram Goyal


savvy Verma
Sir ek deceased sister h uski koi family nhi h apni toh uski sister hi uske family or legal heirs hui toh Jo deceased sister ki fd aur saving ka paise unke legal heirs ko mila h kya vo tax hoga legal heirs pe kya bank TDS katega fd aur saving mei aur phir legal heirs ko payment karega??brAur ye legal heirs apni income mei show karege ya nhi?
Comment from : savvy Verma


Shreyash nigam
Illustration 1: no tax because the amount is less than 50000brIllustration 2: 125000 is tax free as it was given by his relative and 184000 is also tax free as it is from marriage but should have to pay tax on 84000 because it is received from friend and is more than 50000
Comment from : Shreyash nigam


Deepak Choudhary
Sir jisko gift mile usko tax dena h kya
Comment from : Deepak Choudhary


Satyawati Sharma
If salaried person example : ram (donar), gift some amount to his/her relatives brCan ram show exemption or rebate on the gift amount he gave ?brbrbrLike in HRA, if we spend 80000 in HRA, I can show HRA and take exemption?
Comment from : Satyawati Sharma


Sougata Roy
sir koi muja 60000 rs upi ma tranfar kara to kia o gift cont hoga???please reply me sir pleaseplease
Comment from : Sougata Roy


Sougata Roy
sir koi muja 60000 rs upi ma tranfar kara to kia o gift cont hoga???please reply me sir pleaseplease
Comment from : Sougata Roy


Minakshi Mor
Could you please tell me under Which Section should we show cash gift from brother in case brother is living in another country and amount is received through bank?
Comment from : Minakshi Mor


ISHAAN playz
HiI have my ppf account presently extended 2nd time in May 2020 Please let me know how much maximum can I with draw I have deposited 15 lac on 5 June 2020
Comment from : ISHAAN playz


Anirban
Father se gift mila to usko new itr portal me kaha show karna hota hey?
Comment from : Anirban


Lalit Kumar
Aaj ka rate gold ka
Comment from : Lalit Kumar


Rajendra
Sir hame father ne 2012 me comercial property hum dono brother ko gift deed ke dwara hame gift di , yedhi infuture hum us property ko sell kerte hae , to us per tax laghegha kiya
Comment from : Rajendra


Murari Mohan Boral
If I gift 80shares market price arround Rs 2Lakh is it taxable?
Comment from : Murari Mohan Boral


Barun Kumar
1Tax freebr2Gift received by his brother is tax free,but gift given by his friends are taxable after 50,000
Comment from : Barun Kumar


riddhi parikh
1none taxablebr2only last one taxableonly rs 34,000 taxable
Comment from : riddhi parikh


Pranjal jyoti Nath
Gold price in Guwahati
Comment from : Pranjal jyoti Nath


Asim Kumar Pahari
Illustration 1: No gift taxable(marriage gift tax free; party gift tax free limit 50000)brIllustration 2: Taxable amount 84000 of 3rd one from friend on birthday(full amount taxable if exceeds 50000) marriage gift tax free, gift from brother tax free
Comment from : Asim Kumar Pahari



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