Why are gifts of property not income to the person receiving the gift?
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Gift of money Aggregate value of cash gifts received without consideration during a financial year FY would be taxable as other income in the hands of the recipient However if the aggregate value of s...View the full answer
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Related Book For
Concepts In Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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