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Gift tax

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(Querist)
03 October 2011 Can an individual gift to daughters son, will it be exemt.
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CA Divyesh Sodha

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CA Divyesh Sodha (Expert)
03 October 2011 No. Son of daugher is not covered by the defenition of relatives. He can gift upto 50000/- taxfree. In excess of Rs.50000/- gift will be taxable in the hands of son of daughter
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CMA KNVV Sri Vidya - Sri Kanth

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CMA KNVV Sri Vidya - Sri Kanth (Expert)
03 October 2011 Agree with expert
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