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Generally, gifts received are not regarded as Income chargeable to Tax.

However, by
virtue of section 2(24)(xiii) r.w.s. 56(2)(v) after 1-9-2004, any sum of money exceeding Rs.
25,000 (Rs. 50,000 in respect of gifts received in or after 1.4.2006), received without
consideration by an individual or an HUF from any person is chargeable to tax as Income
under the head Other Sources, subject to following exceptions: [(a) Receipts from certain
relatives; as defined in the section]. (Refer Chart) [(b) Receipts on occasion of marriage of
the individual.] [(c) Receipts under a will or inheritance.] [(d) Receipts in contemplation of
death of the payer.]
Cost Inflation Index:- Cost inflation index (CII)as notified by Central Government alongwith analysis of the
same is as under:
Increase in CII and 75% Real inflation
FINANCIAL YEAR COST INFLATION INDEX of percentage of real % of CII Increase allowed / 3
inflation allowed X4

1981-1982 100

1982-1983 109 9 = 9% 12%

1983-1984 116 7= 6.422 8.563%

1984-1985 125 9=7.7586 10.344%

1985-1986 133 8=6.4 8.5333%

1986-1987 140 7=5.263 7.0173%

1987-1988 150 10=7.1428% 9.5237%

1988-1989 161 11=7.333% 9.7777%

1989-1990 172 11=6.8323% 9.1097%

1990-1991 182 10=5.8139% 7.7519%

1991-1992 199 17=9.340% 12.4542%

1992-1993 223 24=12.060% 16.080%

1993-1994 244 21=9.4170% 12.556%

1994-1995 259 15=6.1475% 8.1967%

1995-1996 281 22=8.494% 11.325%

1996-1997 305 24=8.5409% 11.388%

1997-1998 331 26=7.8549% 10.473%

1998-1999 351 20=6.0423% 8.0564%

1999-2000 389 38=10.826% 14.435%

2000-2001 406 17=4.370% 5.827%

2001-2002 426 20=4.926% 6.568%

2002-2003 447 21=4.929% 6.573%

2003-2004 463 16=3.579% 4.773%

2004-2005 480 17=3.6717% 4.896%

2005-2006 497 17=3.5416% 4.7222%

2006-2007 519 22=4.4265% 5.902%

2007-2008 551 32=6.1657% 8.221%

2008-2009 582 31=5.6213% 7.501%

2009-2010 632 50=8.591% 11.455%

2010-2011 711 79=12.36 16.485%


RATES OF GOLD AND SILVER
VALUATION DATE GOLD (per 10 gms) Rs. Silver (per 1 kg) Rs.

01.04.1981 1670 2715

31.03.1982 1645 2680

31.03.1983 1800 3105

31.03.1984 1975 3570

31.03.1985 2130 3955

31.03.1986 2140 4015

31.03.1987 2570 4794

31.03.1988 3130 6066

31.03.1989 3140 6755

31.03.1990 3200 6463

31.03.1991 3466 6646

31.03.1992 4334 8040

31.03.1993 4140 5489

31.03.1994 4598 7142

31.03.1995 4680 6335

31.03.1996 5160 7346

31.03.1997 4725 7345

31.03.1998 4045 8560

31.03.1999 4235 7615

31.03.2000 4380 7900

31.03.2001 4190 7215

31.03.2002 5010 7875

31.03.2003 5310 7695

31.03.2004 6065 11770

31.03.2005 6180 10675

31.03.2006 8490 17405

31.03.2007 9395 19520

31.03.2008 12125 23625

31.03.2009 15105 22165

31.03.2010 16320 27255


S K FURNISHINGS

L1/48 T.N.H.B. COLONY

RAILAR NAGAR

MADURAI 625018

TAMILNADU, INDIA

Phone Off: 0452-2660670

Mobile: 93441-08096

Email: skfurnishings2000@yahoo.in

PRODUCT: CURTAINS & UPHOLSTERY FABRICS

TIN: 33685024172

CST: 158605 dt 27/12/2010

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