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CASH GIFT TO PARENTS
IIM alumnus travels to Pune to hand over first salary in cash to parents, their reaction melts internetAn IIM graduate surprised his parents in Pune by presenting his first salary in cash. Ashwajeet Kamble recreated a cherished memory of his ...- Meta to lay off 8,000 employees on May 20: What will be the severance package for staff by Mark Zuckerberg's company?Meta layoffs: Meta is set to lay off approximately 8,000 employees, about 10% of its global workforce, on May 20. Meta said the company is ...
- ED opposes Jacqueline Fernandez's approver plea in Rs 200 crore laundering caseThe Enforcement Directorate has opposed actor Jacqueline Fernandez's request to become an approver in a Rs 200 crore money laundering case....
- ‘Most Indians retire asset-rich but income poor’: Edelweiss MF’s Radhika Gupta on retirement planning, SIP resilience, lifecycle funds, and simple investingOne of the industry’s most recognisable voices on investing, Radhika Gupta, MD and CEO, Edelweiss Mutual Fund, has helped shape both her fu...
- Rs 13 lakh cash payment for credit card bill triggers tax notice; man wins case after ITAT accepts ‘family gift’ explanationA Mumbai man faced a tax notice for using Rs 13 lakh cash to pay his credit card bill. He explained the cash as gifts from his wife, father...
- Tax on destination wedding outside India: Will income tax apply on gifts in form of cash, property, gold jewellery? Know the rulesWhether it is cash, gold, car, or even a property, if gifted to the bride or the groom on their wedding, no tax would be levied on the gift...
- Gold holding above 100g: Can it be seized by income tax department if you don’t have right papers? Check varying limits for men and womenIndia has no legal limit on gold ownership, provided its source is declared income. While CBDT offers seizure guidelines for specific gold ...
- Will I have to pay tax if my parents gift me Rs 20 lakh?Am I supposed to pay tax on a gift from my parents? Our panel of experts answers questions related to any aspect of personal finance. If yo...
- Gifting assets to relatives? Types of assets you can gift, tax rules and moreGifting assets to relatives is a way to distribute wealth within the family and ensure financial security for loved ones. Here are some key...
- What type of gift is taxed and what is exempted? Arnav Pandya explainsArnav Pandya explains income tax rules for gifts, highlighting exemptions for gifts from relatives like spouses, parents, and in-laws. Vari...
- Which gifts are taxable for the recipient and which ones can increase tax liability of giverIt is essential for you to evaluate the transactions to check if it falls under taxable scenarios. If the answer is yes, you should volunta...
- When crypto assets received as gift are tax exempt in your handsAs per the Budget 2022 announcement, the gift of virtual digital assets is proposed to be taxed in the hands of a recipient. However, as pe...
- Money & relationships: Which gifts in a marriage are considered as dowry?Are all the gifts, cash and things given by the bride’s parents to their daughter and to the groom’s family considered dowry? Does dowry di...
- Festive cheer: The joy of gifting lies in creating a list, keeping a tab on what you spendNo matter your role in exchanging gifts, there are many do's and don’ts. Here’s what you should know this season.
- Tax tribunal rules in favour of actor who got Rs 30 lakh gift from fatherKushal Tandon, a popular Bollywood actor, filed an appeal with the Income Tax Appellate Tribunal. The appeal was over several disputed tax ...
- Budget 2017: Time to revisit minor child exemption of Rs 1,500?As per I-T provisions, a nominal exemption under Section 10(32) up to Rs 1,500 is available per child against income of minor child clubbed...
- Taxes you have to pay when you get a giftWhile gifts from certain people or presents received on certain occasions are non-taxable, you will have to pay a cut to the taxman at othe...
- Smart things to know about tax treatment for giftsA gift is a voluntary transfer of an asset’s ownership to an individual without full monetary consideration. Are gifts taxable?
- NRIs in US: Things to remember while giving gifts in IndiaA new tax on gifts was introduced according to which, tax would be levied, in the hands of the receiver.
- Gifts worth over Rs 50,000 to attract tax nowThe tax department has willy-nilly become a party-pooper bang in the middle of India’s month-long festive season, characterised by indulgen...
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