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GIFTS IN KIND
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The value of such gifts for the purposes of taxation will be as under:
Immoveable property- (If the consideration is NIL) Stamp duty value of such property. However, if the stamp duty value is less than Rs. 50,000/-, the gift will be exempted.
Immoveable property- (If the consideration is LOWER) Difference between stamp duty value of such property and the consideration. However if the difference is less than Rs. 50,000/-, the gift will be exempted.
Moveable property- (If the consideration is NIL) Aggregate fair market value of such property. However, if the aggregate fair market value is less than Rs. 50,000/-, the gift will be exempted.
Moveable property- (If the consideration is LOWER) Difference between Aggregate fair market value of such property and the consideration. However, if the difference is less than Rs. 50,000/-, the gift will be exempted.  |
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Office
address: 611/612, Raikar Chambers,
Shankeshwar Parshwanath Marg, Deonar,
Mumbai - 400088.
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