alleryStart learning →A gift made in contemplation of the donor's death is?
ATaxable after a year
BTaxed at half value
CExcluded from clause (x)
DTaxed if above Rs 50,000
Answer & Solution
Correct answer: C. Excluded from clause (x)
Receipts in contemplation of death of the payer or donor are listed in the proviso among those to which clause (x) does not apply.
Keep practising Income from Other Sources
Browse all Income from Other Sources questions for CA Inter, or explore more Taxation topics.
Related questions
A non-relative gifts exactly Rs 50,000 in a year. Taxable amount?Meena gets Rs 20,000 from a friend and Rs 28,000 from a colleague in a year. Taxable gift?In one year Rahul gets Rs 30,000 and Rs 25,000 gifts from two friends. Taxable gift?Property received free is taxable only if its stamp duty value exceeds?Which Union List entry lets the Centre tax non-agricultural income?Under which provision is agricultural income exempt from tax?A horse race under section 58(4) must be one on which?The bar on deductions in section 58(4) does not hit?