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June 4, 2011 at 2:18 pm #48909
us
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i wanted to know wether annual exemption is applicable for life tax too or just the death tax?
June 4, 2011 at 3:36 pm #82959
Tax Tutor
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Annual exemptions are only for lifetime gifts
Hope this helps
June 4, 2011 at 4:06 pm #82960
us
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but in question no 43(ii) (HELGA EVANS) in the kaplan kit,they have deducted the annual exemption of 6000..i got confused from there :S
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