Easy Office
LCI Learning

Gift by mother in law to daughter in law

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
09 December 2016 what will be tax implication for gift given by Mother in law to daughter in law amounting to Rs.20 lakh and treatment of interest arising by depositing the amount in bank in FD form.Whether clubbing of income provision will attract.

09 December 2016 Gift given by Mother in Law to Daughter in law is exempt u/s.56(2). Interest earned on Investment made from such Gift by daughter in law is taxable in the hands of daughter in law. Clubbing provision will not be apply on it



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries