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Usually there are some principles provided by profits tax act 1961 for taxation on present whether or not reward is taxable or not. For simplification I divided this rules in two head
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Any volume gained as reward approximately Rs 50000 in one yr will not be taxable inside the hand of recipient. But if sum exceeds Rs 50000 than total been given quantity might be taxable. There's Restrict delivered on amount Received in one calendar year as a present not on amount of money gained by per man or woman
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Cash explained she’s been interested by modeling but was cautious of what her colleagues might have thought of her.
Nina Cash reported she is "the very pleased daughter of a veteran who served in a few wars." The patriarch is observed in this article along with his granddaughter. (Nina Cash)
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Along with weddings and bills, close friends and family members flood the couple with plenty of presents. But there is something a lot of couples are not aware of — taxation policies on marriage items.