![]() ![]() Gifts received through a will or through inheritance as well as gifts to parents from their NRI sons and daughters through their NRE account were also under the Gift Tax exempt list. Gifts that were received from relatives for marriage, including gifts to the daughter in law from the bridegroom’s parents, and gifts to the son in law from the bride’s parents were also exempt from tax. Gift Tax was also not applicable in case of the transfers of immovable property that were situated outside the country. Income Tax, Service Tax, Wealth tax, Excise duties, Professional Tax in India. G.S.R(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said Act. In case of the exchange of gifts between blood relatives, irrespective of the value of the gift, Gift Tax was not applicable. Download a free copy of the sample document, Detailed general power of attorney. For original registers enquire at St Josephs Church, St Josephs Drive, Ordsall, Salford, Gtr Manchester. ![]() There were certain exemptions that were allowed under the Gift Tax. ![]()
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