USA HISTORY

Detailed explanation-1: -all gifts are charged to tax Hence, if the aggregate value of gifts received during the year exceeds Rs. 50, 000, then total value of all such gifts received during the year will be charged to tax (i.e. the total amount of gift and not the amount in excess of Rs. 50, 000).

Detailed explanation-2: -Valentina Vassilyev and her husband Feodor Vassilyev are alleged to hold the record for the most children a couple has produced. She gave birth to a total of 69 children – sixteen pairs of twins, seven sets of triplets and four sets of quadruplets – between 1725 and 1765, a total of 27 births.

Detailed explanation-3: -During such times, a very common question would be whether the amount received as a gift has any tax implications. Well, if the amount received as a gift is more than Rs 50, 000, then the entire amount received will be taxable. The amount is added to your taxable income and taxed as per your slab.

Detailed explanation-4: -God’s heart isn’t about punishing people. This verse makes clear that God does not punish children for their parents’ sins. God does not punish a new generation for the sins of a former generation. But God does hold children who don’t learn from their parents’ mistakes accountable.