Gift Tax - best income tax and gst firms in bengaluru
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Gift Tax

Gift Tax

Gift tax is a tax on the transfer of any movable or immovable property by one individual to another individual without any consideration or at a consideration which is less than it actual value.

Generally, donee is responsible for paying gift tax. Under special arrangements, the donor may agree to pay the tax instead.

However, there are certain exemptions allowed under Gift Tax, like in case of gift received from relatives or on occasion of marriage of the individual or under a will or by way of inheritance etc.

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