28 September 2016
Hi, Good morning.
please could you clarify lineal ascendant/descendant meaning as per section 2(41) of income tax act.
will mother's mother and mother's father come under relative.
please clarify ...
28 September 2016
lineal ascendant : father, father's father, father's father's father and so on lineal descendant :son, son's son, son' son's son and so on
28 September 2016
yes, as per section 2(41)....relative of X is husband/wife of X, brother of X, sister of X, lineal ascendant of X, lineal descendant of X (Please note for section 56 of Income tax act, the definition of relative is different than this)
28 September 2016
you are most welcome. One more point : both the definitions are EXACT definitions......because they start with the verb means..... (i.e. they are not inclusive definitions.......they are exact definitions)
CAclubindia
