Cash flow created from your items on your wedding ceremony is topic to tax. Such as, When you are gifted assets and you put it approximately hire, the profits generated as a result of rent is taxable.
There are several policies supplied by cash flow tax act 1961 for taxation on gift irrespective of whether reward is taxable or not. For simplification I divided this guidelines in two head
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Coupled with weddings and bills, good friends and people flood the couple with lots of presents. But there is something several partners are usually not aware about — taxation policies on marriage items.