Gift received by Individual or HUF on or after 01.04.2017 - Section 56(2)(x)

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... m of money Category 1 : Without Consideration If aggregate value of money exceeds ₹50,000, the whole of the aggregate value of such money Immovable Property Category 2 : Without Consideration Stamp duty value of property if it exceeds ₹50,000 Category 3 : With consideration / Inadequate consideration (If stamp duty value exceeds the purchase price by more than ₹50,000 and amount .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... th consideration / Inadequate consideration (If the Fair Market value of such property exceeds the purchase price by more than ₹50,000) Value of gift = Fair Market Value Purchase Price Category 5 : Without Consideration Fair Market Value of such property if it exceeds ₹50,000. Provided that this clause shall not apply to any sum of money or any property received - From any relative or .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... f clause (XI) of the proviso to clause (x) of sub-section 56(2). ( Rule 11UAC ) by an individual, from any person, in respect of any expenditure actually incurred by him on his medical treatment or treatment of any member of his family, for any illness related to COVID-19 subject to such conditions, as the Central Government may, by notification in the Official Gazette, specify in this behalf; by .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X