IF SOME ONE TAKE MONEY FROM HIS SON OR DAUGHTER SUPPOSE , 36000 PER MONTH,, SHOULD IT TAXABLE UNDER INCOME TAX?

AS PER INCOME TAX ACT under section 56 gift from any blood relation is non-taxable in INCOME TAX declaration.

So if we take that money received from son or parent is a gift from them then it was non-taxable.

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IF SOME ONE TAKE MONEY FROM HIS SON OR DAUGHTER SUPPOSE , 36000 PER MONTH,, SHOULD IT TAXABLE UNDER INCOME TAX?

AS PER INCOME TAX ACT under section 56 gift from any blood relation is non-taxable in INCOME TAX declaration.

So if we take that money received from son or parent is a gift from them then it was non-taxable.

Thanks for reading please share and comment if like it. Want to be an author here contact us

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