Wed, Jul 18, 2018
Under Section 56(2)(x)of Income Tax Act, gifts received by a person are fully taxable if the aggregate value of all the gifts received during the year exceeds Rs 50,000. However, there are certain exceptions to it.
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Tue, Dec 27, 2016
Finance Minister Arun Jaitley on Monday said a lower level of taxation that is globally compatible is necessary if the country has to have a broader base of economy.
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