Person received the gift this person is taxable or not. If It is taxable then which law (act)is aplicable and under section.....

Answer Posted / rajsekharpati

income tax act . but if you received gift from your relative, it is not taxable

Is This Answer Correct ?    0 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What is the rate of Excise duty for all goods Is der any Difference in rate of exice duty for Chemicals And Fabric

1747


Tell about dvat and dvat rate

2732


How to calculate entry tax on kraft papers format in excel under Assam Entry tax rules?

5874


What is the Rate of Service tax for Short term accommodation services & Restaurant Services ?

2116


what is deemed sales? how to calculated

1755






what are the slab rate for F Y 2010-11

1622


What extra accounts and legal formalities are maintened In excise firm other then normal saling firm.? also tell me tax aspect in Excise firm?

1522


Our business is an international call center. we are selling antivirus which is buying rs 200 & selling Rs 4500.what will be the purchase & sales.& what will be taxation processor to calculate tax

1718


Who are non resident?

682


WHAT IS THE PROVISION FOR NET PROFIT & LOSS IN PVT LTD CO & LTD CO GIVE ME THE EXAMPLE WITH ENTERY ON MY EMAIL sonidilip87@yahoo.com

1525


In TDS Challan, i had written the TAN No of my company wrongly and i file it to the Govt. what can i do now? is there any problem reg this? wat is my next step? shall i give any letter to TDS Circle in this regarding? how can i approach them? Kindly help me immdly with the procedure.

2116


I AM A/C'S MANAGER IN CONSTRUCTION CO.WE TAKE TRANSIT MIXTURE ON RENT BASE FROM OUTSIDER.THE SUPPLIER CHARGE VAT ON THAT MACHINERY @ 15%,IS IT TRUE? IF YES PL.SAY ME WHICH SECTION APPLY UNDER THIS LAW OR NOTIFICATION OR CIRCULER FROM COMMERCIAL TAX DEPATMENT.

2114


My Question is regarding WCT. During an audit of a company, i saw a contractor consolidated invoice for installation at site in which it shows labour charges and goods supply separately and no service tax and vat is charged. The company pay the whole amount to contractor after deducting TDS. my question is whether WCT also deducted? if deducted at which rate if company in gurgaon?

1805


if i the vendor is providing us some printing material & they issue a bill of printing with including Vat so what can i deduct TDS ?

1573


Please some one tell me what is the VAT or WCT rate for works contract at Tripura

2053