https://www.taxtmi.com/article/detailed?id=524 Amendments effective 1 October 2009 deem certain gifts and bargain benefits to be taxable income in the hands of individuals and HUFs: cash, immovable property (land or building) and specified movable property received without consideration, or acquired for consideration substantially below stamp duty or prescribed fair market value, are taxed where the relevant value exceeds the exempt limit; exemptions include transfers among relatives, on marriage, by will or inheritance, in contemplation of death, and receipts from specified public, educational, medical or charitable institutions. en-us Tue, 13 Oct 2009 00:00:00 +0530 Tue, 13 Oct 2009 09:10:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=524 Amendments effective 1 October 2009 deem certain gifts and bargain benefits to be taxable income in the hands of individuals and HUFs: cash, immovable property (land or building) and specified movable property received without consideration, or acquired for consideration substantially below stamp duty or prescribed fair market value, are taxed where the relevant value exceeds the exempt limit; exemptions include transfers among relatives, on marriage, by will or inheritance, in contemplation of death, and receipts from specified public, educational, medical or charitable institutions. Articles Income Tax Tue, 13 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=524