Tax On Gift Income 2024 | Income Tax On Gifts Received | Taxation Of Gifts Under Income Tax Act
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- เผยแพร่เมื่อ 6 ต.ค. 2024
- Tax On Gift Income 2024 | Income Tax On Gifts Received | Taxation Of Gifts Under Income Tax Act
A very common and frequent question running in the mind of taxpayers is the taxability of gifts. In this video, you can gain knowledge about various provisions relating to the taxability of gifts received by an individual. We have discussed, tax treatment of gifts received by an individual.
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Topics covered
gift deed kaise banaye
tax on gift shares
gift deed for money transfer
gift deed for income tax purpose
cash gift deed stamp duty
section 56 of income tax act
gift tax 2023
tax on gifted shares
tax on gifting stocks
tax on gifted property
income tax on gift received from parents
income tax on gift deed
gift tax explained
gift deed for money transfer
section 56 of income tax act
gift tax act, 1958
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Bahut accha knowledge 🙏
Useful and important information ❤
Good video. Congratulations. We have small query and hope to get reply?
Getting funds transferred from our NRI son.
Q1: Is Gift deed must?
Q2: Where to show in ITR?
Q3: CA consultation done and it was advised that mentioning in ITR not required.
Please clarify if you feel like. I am sure you like.
For small amounts, the gift deed can be avoided (upto 5 lakh a year.)
Income to be shown in Other Income, and there will be options for "any other," then select that option and write as Gift in description.
Mentioning in ITR is mandatory
@@BankingBaba Thanks sir. Amount is much more than 5 lakhs during last 5 years regularly. My NRI son had sent. No gift deed made. However, IMPS details or RTGS details with dates are available. Now what options are available with us. Request you to give consultation. It may cost. Can I seek your services. If yes, what are your charges and how to connect you.
Very good information.
Very good information
Please also provide information on how to fill ITR, which section for Exemption on gifts from parents
Already available on channel
If two persons have 2 joint accounts in first account father is the earning member and primary holder and daughter is second holder and in second account daughter is primary holder and father is second holder...now from first account where the father who is the first holder transfers to next account where daughter is the first holder...here the question is if the amount which is transferred is falling in tax bracket then should the daughter pay tax as she is the first holder in this second account though father has paid tax on his income based on first account?
Excellent demo
Beautiful awesome video❤
6:32: Kya chcha tau, mama-mami KO gift mila to vo relative list mein aayega? Vo unke liye tax free hoga?
This video is very well explained. Have a question.
After demise of my wife, me and my son remain nominee and transferred death claim money to our account. Understood not taxable. But me wishes to gift my daughter and son also wishes to gift that money to his sister. Will the amount gifted to daughter/sister by us will remain tax free. Per your advice we need to have prepared gift deed for such amount as it’s more than 5 lacs individually. Please confirm / asvice
मैं सरकारी कर्मी हूं मुझे वरीय पदाधिकारी द्वारा 15000हजार नगद राशि एक साल के अंदर प्राप्त हुआ है मुझे कितना टैक्स देना होगा।
Isko Apni income mein jod do fir slab ke anusar tax dena hoga
Is it compulsory to show,in itr , fund gift from son's a/c to father's a/c,more than 50 k ?
During ITR 2 filing it is seen Rs 2 lac has been accrued from my matured KVP this year ( invested in 2015 ) but no TDS has been deducted from it -- Now I forget to show this income in ITR 2 filing Should I file a revised return ? How can I save this ?
I will advise you to file a revise return, Considering KVP interest component under income from other sources.
As per your video. 2 lac to father and they make fd accrue interest it is clubbed then what is meaning of gift
Sir agar father son ko every month bank me transfer kartey hain toh gift deed zaroori hai?
How can gift deed be executed every month?
Please reply sir.
Nice video sir
बहुत बढ़िया। लेकिन पैरेंट को गिफ्ट पर क्लबिंग की बात पर सहमत नही। प्लीज clarify।
Ji ha…parents ko gift karne pe shayad clubbing nahi hota aur kisi ko iske bare me pata ho to please clarify kijiye
@@siratslifestyle1484No, you are right
Double meaning. I tax official can divert any side. Money to parents not clubbing. But if they earn int thereon then clubbed with doner. Then there is not any meaning of money transfer. As per their rules I feel to parents keep money at home and wait for thief who are second face I tax official in real ndis
Mere father agar 50 lacs gift kare aur mai usko fd karke interest kamau to kya mai tax pay karunga ??ya mere father tax pay karega?? Agar gift Milne ke baad father ka death ho jae to kon tax pay karega mere fd interest pe????
Sir main apna plot bech kar beti ko flat dilawana chahti hoon kaya kare jo tax kisi par bhi na lage
Exempt Gift need not be shown in ITR at all. Pl reply.
Show in Exempt Income section
@@BankingBaba In ITR, no field / column . row for Exempt Gift. Pl correct me, if I am wrong.
There is option for exempt income, and there is not specific option for gift, select last option referring "Any Other" and mention there as gift
Very nicely explained by you.
Can grandmother transfer money to grand daughter upto 10-20 lac as gift,tax free?
Grand mother jo 20 lac grand daughter ko dengi, use grand daughter ki income ho jayegi ab uspar slab ke anusar grand daughter ko dena padega
Yes
@@ramswaroopsaxena7560to fir Gift ke tax free hone ka matlab hi kya rah jayega? Kyon galat jankari de rahe ho?
10:42 ITR mein kahan aur kaise dikhana hota hai
Bade bhai major children ke case me pure CA students ko btaya jata gai ki clubbing nhi hoti....aap yha oe clubbing hoti h bata rhe
Correct. In this case major will pay tax as per earnings. Banking baba ne galat info di h
If my brother's wife transfer online money to me, will that be considered as a relative and family transfer and will that amount be tax free ?
I believe SON transfering money via Chaque to his mother ( no occasion) . It is not taxable. Lets say now mother invest those money and earn income in that case only that income would be taxable.
Correct me if i am worng.
Money that transferred and income that earn by investment all are under taxable
How to disclose taxfree gift in itr
Sir kya mai bahut saare logon se bahut saara amount as help online le sakta hu uska record kaise dikhaana hoga usme se mai aage bhi kisi ki help karunga 100 % taxable hoga yeh to mujhe maaloom hai lekin kya aisa karna kaanoon ki nazron mai koi objection to nahi hoga
Kohi relative muzhe shere gift kerta he or us shere pe muzhe 6000 pe uper ka devident milta he to kya muzhe us ler tax dena hoga?
Immovable properties
Sir, i want to gift 15 cents of empty house building land to my friend's son, on the occasion of his marriage, through a registered gift settlement deed, the guide line value is 32 lakhs. Is it tax free for him as its receiver? Thanks.
Agar muja koi sear77000 non reletive gifts dia or mara koi incom nai ha tab kea hoga
Or mera incom tax file vhi nahi ha
Do your Homework, Gift from relatives ko ITR me show karne ki zrurat nahi hai, gift deed is ok.
Then you will enjoy with notice under section 131
सर पिताजी को गिफ्ट में दिऐ गए पैसै से पिताजी को ईन्कम होती है और ऊनको सर्वाईल के लिऐ पैसै तो चाहिऐ ही तो फिर ऊस ईन्कम से मुजे क्यों टेक्ष देना होगा
If you could help to understand the safe investment with good return for people who get money from their deceased
कुछ यूट्यूबर कह रहे है कि माता पिता को दिए गए गिफ्ट ( कैश, शेयर) पर क्लबिंग नही लगती
Clubbing tab hogi jab aapke parents itr file na. Kare
Gift kitne tak le sakte hain online paisa
Sir मैंने अभी 1st app से लोन लिया है 1 लाख का और उसको मैं 2nd से रिकवर करूंगा next month. और फ़िर 2nd app के लोन को उसके next month 1st के लोन से रिकवर करूंगा. यह सब इसलिए करूंगा क्योंकि मैं अपनी सैलरी के पैसे को अभी सेव कर रहा हुँ कुछ month....क्यूंकि मेरी सैलरी बहुत कम है. महीने की 12k है. क्या ऐसा करने से मुझे income टैक्स का नोटिस आ सकता है..?
@@CAyashpanjwaniji detail me samjhao sir
no more than 2 lakh cash received is a good information
If I use to transaction multiple times like Rs. 200, 300, 500 ect in a single day to multiple bank account, but total amount is around 3 lakhs in a single day. Will income tax notice come
Please reply me
No
@@nikhiladwani4412 why please explain, its possible to get notice if the amount is More than 10 lakh. I will be very thankful to you if you clear my confused
यदि कोई सरकारी कर्मचारी अपने भाभी को 10 लाख के शेयर गिफ्ट करें तो और भाभी उसको बेंच के 1 लाख का प्रॉफिट बनाये तो 1 लाख किसकी आमदनी मानी जायेगी।
Bhabi ka.
@@005ei60Right
Daughter in law is relative
When A has already paid tax then why is B being taxed again on the same amount
How misleading headline!!
Tax terrorism ... 😂😂