Gift Tax Rules in 2017-2018 – Can we save or avoid Gift Tax?

Gift Tax Rules 2017-2018 – Can we save and avoid Gift Tax

Gift Tax Rules 2017-2018 – Can we save and avoid Gift Tax? Gifts are a symbol of love and affection. Parents give gift to Son or Daughter. Parent in-laws give gifts to daughter in-law or son in-laws during marriage. Many of us break their head whether gift money is taxable in India or not. However one should know what gifts are taxable and which gifts are non-taxable. Understanding Gift Tax Rules in 2017 would help you save gift tax and […]

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Gift Tax in India – Rules and exemptions

Gift Tax in India - Rules and exemptions

Gift Tax in India – Rules and exemptions Have you asked your friend to transfer Rs 60,000 to your bank account and have you settled offline through cash? Be careful, as income tax department may scrutinize and ask to pay income tax on the amounts received from your friend in your bank account. You should know the ground rules of Gift tax in India on how to deal them to prove that such transaction is already settled. Hence it is […]

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