Accountancy, asked by akash4984, 1 year ago

Mr ankit has received a gift of car from his friend ,the market value of this said car is ry. 5,00,000 what will be the taxable amount of the gift. ?

Answers

Answered by Anonymous

2

Option B - Rs. 5 lakhs

The whole amount of 5 lakh is taxable under the head income from other sources.

Since , the value of gift (moveable property exceeded Rs.50,000

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