Mr. Ram received a cash gift of ₹ 51,000 from his friends on the occasion of his 50th birthday. None of the friends are relatives. The amount liable to tax in the hands of Mr. Ram would be:

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Question:Mr. Ram received a cash gift of ₹ 51,000 from his friends on the occasion of his 50th birthday. None of the friends are relatives. The amount liable to tax in the hands of Mr. Ram would be:

1.Nil

2. ₹ 1,000

3. ₹ 51,000

4. ₹ 46,000 after deducting causal income of ₹ 5,000

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  1. Mr. Ram received a cash gift of ₹ 51,000 from his friends on the occasion of his 50th birthday. None of the friends are relatives. The amount liable to tax in the hands of Mr. Ram would be:
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