Comments on: Income From Other Sources- Section 56 (2)(Vii) Unequal treatment of all equals

By: Arun

Arun — Mon, 08 Aug 2011 06:30:42 +0000

Please update the Sec 56(2)(vii).Immovable property received for inadequate consideration has been withdrawn.

By: Keshav Mundhra

Keshav Mundhra — Fri, 15 Jul 2011 10:10:58 +0000

At the time of my children birth twins, they received Rs.1,00,000/- each as gifts from relatives and others. I opened S.B A/c for them and deposited the money. Out of that i have invested Rs.45,000/- each in PPF and Rs.45,000/- in KVP(Post office. What is my tax-ability? Can my father, mother & wife gift to the children without any tax liability?

By: Sushil Rungta

Sushil Rungta — Fri, 22 Apr 2011 11:14:24 +0000

Sir,
whether shares held as stock intrade by NBFC at losser value shall attract sec. 56(2)(vii) or not

By: ravi vyas

ravi vyas — Thu, 15 Jul 2010 09:05:31 +0000

dear sir,
if i give a gift to my mother and father or in-laws, weather i got exemtion under sec 56.

with regards,
ravivyas

By: B K AGARWAL

B K AGARWAL — Mon, 08 Mar 2010 10:39:45 +0000

Dear Sir
I sold inherited house at Hapur UTTAR PRADESH on 13 January 2010for Rs 8 lacs. Circle rate stamp duty paid by purchaser was on 13.65 lacs. Section 56(Vii)(b)(ii) means WHAT for purchaser / Sellar.
Regards
B K AGARWAL
Mob-09811152551
bkag1946@gmail.com

By: Rajesh Bhimrajka

Rajesh Bhimrajka — Wed, 21 Oct 2009 05:21:25 +0000

Article is good but i want to know whether there are any exemptions to such Gifts like transfer of immovable property to relatives without any consideration

By: MAJ BHUPAL SINGH

MAJ BHUPAL SINGH — Wed, 21 Oct 2009 05:21:25 +0000

Dear Sir,

A very well analysed and discussed write up. The researchers desrve cngratulations.
I wish such write ups and analysis
are posted regularly on this portal.

With regrds,

Bhupal Singh