When GIFTS are Exempt from income tax ?


Readers are advised ti read Gifts from these 44 Relatives are tax free ! as this is much updated posting. Gift of any amount received after 1.4.06 is exempt if received 1. From Relatives or , 2. On the occasion of marriage or, 3. Under a WILL or, 4. By way of inheritance or, 5.In contemplation…

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