alleryStart learning →Under section 56(2)(x), a money gift is taxable only if the aggregate in the year exceeds?
ARs 25,000
BRs 1,00,000
CRs 50,000
DRs 10,000
Answer & Solution
Correct answer: C. Rs 50,000
Clause (x)(a) triggers tax once the aggregate sum received without consideration is more than fifty thousand rupees.
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