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INTERVIEW QUESTIONS
TAX
GIFT TAX
DETAILS
Question: Apart from marriage are there any other occasions in which immovable property received by an individual without consideration will not be charged to tax?
Answer: Gift received only on the occasion of marriage of the individual is not charged to tax. Apart from marriage there is no other occasion in which gift received by an individual is not chargeable to tax. Hence, gift received on occasions like birthday, anniversary, etc., will be charged to tax.
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Gift Tax Interview Questions & Answers -
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Question:
Apart from marriage are there any other occasions in which immovable property received by an individual without consideration will not be charged to tax?
Answer:
Gift received only on the occasion of marriage of the individual is not charged to tax. Apart from marriage there is no other occasion in which gift received by an individual is not chargeable to tax. Hence, gift received on occasions like birthday, anniversary, etc., will be charged to tax. Source: CoolInterview.com
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