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Tds on gift


Ans: To know the quantum of the tax deducted by the payer, you can ask the payer to furnish you a TDS certificate in respect of tax deducted by him.
194B Winnings from lottery or crossword puzzle or card game or other game of any sort.
Queries and views at, first Published: Mon, Jan 15 2018.If the aggregate value of gifts received is less than.Winnings from Lotteries/Cross-word/Game Shows 10,000.Exemptions from gift tax, as mentioned above, certain specified gifts received by any person from any person/persons attracts gift tax.Any person who desires to furnish a declaration in Form 15G or 15H for no deduction of TDS, shall also indicate his PAN on such declaration, otherwise TDS shall be deducted @.Name withheld on request, any gift received from the employer, of a sum exceeding Rs5,000, is treated as taxable compensation in your hands as per Section 17(2 viii) of the Income Tax Act, 1961 read with Rule 3(7 iv) of the Income Tax Rules, 1962.



No TDS to contractor to resident person 194C a) If sum paid/credited to a contractor in a single payment does not exceed.
Section 194-IA is not applicable if the seller is a non-resident.
1 crore 15 (if total income viator promo code 5 off exceeds.Rent of plant and machinery.Contents, ans: For quick rbc rewards points travel and efficient collection of taxes, the Income-tax Law has incorporated a system of deduction of tax at the point of generation of income.20,000, income tax on such gifts would be liable to be paid as the aggregate value exceeds.1 crore or less More than.Also what is the process of transferring?Since the property had been acquired by your grandfather prior to, your sister will have the option of considering the fair market value as on the cost of acquisition.Any property (jewellery, shares, drawings etc) other than immovable property without consideration.You will need to evaluate any stamp duty implications arising from the gifting of this property.Any Linear ascendant or descendent of the Individual.

Ans: Tax is deductible at source at the rates given in table (infra).
In respect of your first query, the interest earned on deposits made by you, in your minor childs account will need to be added to your taxable income.


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