CoolInterview.com - World's Largest Collection of Interview Questions & Answers, FAQs, queries, sample papers, exam papers, dumps, what, why, how, where, when questions OneStopTesting.com - Testing EBooks, Tutorials, Articles, Jobs, Training Institutes etc.
OneStopGate.com - Gate EBooks, Tutorials, Articles, FAQs, Jobs, Training Institutes etc.
OneStopMBA.com - MBA EBooks, Tutorials, Articles, FAQs, Jobs, Training Institutes etc.
OneStopIAS.com - IAS EBooks, Tutorials, Articles, FAQs, Jobs, Training Institutes etc.
OneStopSAP.com - SAP EBooks, Tutorials, Articles, FAQs, Jobs, Training Institutes etc.
OneStopGRE.com - of GRE EBooks, Tutorials, Articles, FAQs, Jobs, Training Institutes etc.

Sponsored Links

Interview Questions
Our Services



INTERVIEW QUESTIONS TAX GIFT TAX DETAILS
Question :

​If the aggregate value of gift received during the year by an individual or HUF exceeds Rs. 50,000, whether total amount of gift will be charged to tax or only the amount in excess of Rs. 50,000 will be charged to tax?

Category Gift Tax Interview Questions
Rating (4.9) By 17 users
Added on 8/2/2016
Views 746
Rate it!


Answers:

Source: CoolInterview.com

Sum of money received without consideration by an individual or HUF is charged to tax if the aggregate value of such sum received during the year exceeds Rs. 50,000. Once the aggregate value of monetary gift received during the year exceeds Rs. 50,000, then the aggregate value of gift received during the year will be charged to tax.​
Source: CoolInterview.com




If you have the better answer, then send it to us. We will display your answer after the approval.
Rules to Post Answers in CoolInterview.com:-
  • There should not be any Spelling Mistakes.
  • There should not be any Gramatical Errors.
  • Answers must not contain any bad words.
  • Answers should not be the repeat of same answer, already approved.
  • Answer should be complete in itself.
Name :*
Email Id :*
Answer :*
Verification Code Code Image - Please contact webmaster if you have problems seeing this image code Not readable? Load New Code
Process Verification Enter the above shown code: *
Inform me about updated answers to this question

Related Questions
View Answer
​An Individual received different gifts (cash) from his friends, none of the gift exceeded Rs. 50,000 but the total of the gifts received during the year exceeded Rs. 50,000. What will be the tax treatment in such a case?
View Answer
Are monetary gifts received from abroad liable to tax?
View Answer
Are monetary gifts received from friends liable to tax?
View Answer
​Apart from marriage are there any other occasions in which monetary gift received by an individual will not be charged to tax?
View Answer
​Are there any cases in which sum of money received without consideration, i.e., monetary gift received by an individual or HUF is not charged to tax?
View Answer
​Are monetary gifts received by an individual or Hindu Undivided Family (HUF) taxable?
View Answer
How to benefit legally from gift tax exemptions?
View Answer
What are the points to remember as Donor while giving a gift?
View Answer
Rules for clubbing of gift income?
View Answer
What are the Gifts that are exempt from Tax?
View Answer
Classification of Gift and Gift Tax rates?
View Answer
WHAT qualifies as a Gift under tax laws?
View Answer
Why was an abolished Gift tax restored?
View Answer
Can a gift be conditional?
View Answer
What are the essentials of a valid gift?
View Answer
What is the tax liability of gifts received from friends?
View Answer
Who is a donor?
View Answer
Is revocation of a gift possible?
View Answer
How do I make a Gift of immovable property?
View Answer
How is the stamp duty calculated on a Gift?
View Answer

Please Note: We keep on updating better answers to this site. In case you are looking for Jobs, Pls Click Here Vyoms.com - Best Freshers & Experienced Jobs Website.

View ALL Gift Tax Interview Questions & Answers



User Options
India News Network

Latest 20 Questions
Setting the Background Color of the Section
Adding a Flickr Image Gallery to Basekit
How to Add Media in basekit ?
How to download/edit sites made with BaseKit Site Builder?
How can Deleting Columns ?
Setting Up & Managing Columns ?
How does BaseKit work?
List out some best practices for Unity 3D?
Explain what is Prefabs in Unity 3D?
Mention what is the function of Inspector in Unity 3D?
Mention important components of Unity 3D?
What are the characteristics of Unity3D?
What is Unity 3D?
What is the functionality of multi pathing?
What are the steps involved to accomplish Raid best configurations?
Name at least 3 ways a SAN provides a High Availability Infrastructure
What advantages do LAN-free back up and restore deliver?
What is the meaning of IOPS? Where it plays important role?
What is the difference between Lun masking and Zoning?
What is the difference between Raid 1 and Raid 5?



Fresher Jobs | Experienced Jobs | Government Jobs | Walkin Jobs | Company Profiles | Interview Questions | Placement Papers | Companies In India | Consultants In India | Colleges In India | Exams In India | Latest Results | Notifications In India | Call Centers In India | Training Institutes In India | Job Communities In India | Courses In India | Jobs by Keyskills | Jobs by Functional Areas

Testing Articles | Testing Books | Testing Certifications | Testing FAQs | Testing Downloads | Testing Interview Questions | Testing Jobs | Testing Training Institutes

Gate Articles | Gate Books | Gate Colleges | Gate Downloads | Gate Faqs | Gate Jobs | Gate News | Gate Sample Papers | Gate Training Institutes

MBA Articles | MBA Books | MBA Case Studies | MBA Business Schools | MBA Current Affairs | MBA Downloads | MBA Events | MBA Notifications | MBA FAQs | MBA Jobs
MBA Job Consultants | MBA News | MBA Results | MBA Courses | MBA Sample Papers | MBA Interview Questions | MBA Training Institutes

GRE Articles | GRE Books | GRE Colleges | GRE Downloads | GRE Events | GRE FAQs | GRE News | GRE Training Institutes | GRE Sample Papers

IAS Articles | IAS Books | IAS Current Affairs | IAS Downloads | IAS Events | IAS FAQs | IAS News | IAS Notifications | IAS UPSC Jobs | IAS Previous Question Papers
IAS Results | IAS Sample Papers | IAS Interview Questions | IAS Training Institutes | IAS Toppers Interview

SAP Articles | SAP Books | SAP Certifications | SAP Companies | SAP Study Materials | SAP Events | SAP FAQs | SAP Jobs | SAP Job Consultants
SAP Links | SAP News | SAP Sample Papers | SAP Interview Questions | SAP Training Institutes |




Copyright ©2003-2016 CoolInterview.com, All Rights Reserved.
Privacy Policy | Terms and Conditions



Cache = 0.71875 Seconds