Comparative chart for list of relatives

CA Deepesh Ruhela (Keen to Learn) (3271 Points)

27 December 2013  

COMPARATIVE CHART FOR LIST OF RELATIVES UNDER INCOME TAX ACT AND COMPANIES ACT
     
Companies Act
(Disclosure of Related Party Transactions)**		 Income Tax Act
(Tax Audit and Specified Domestic Transactions Section 40A(2)(b) & 92BA)		 Income Tax Act
(Gift under Section 56)*
1. Spouse 1. Spouse 1. Spouse
2. Brother 2. Brother  2. Brother
3. Brother’s wife 3. Sister 3. Brother's wife
4. Sister 4. Father 4. Sister
5. Sister’s husband 5. Mother 5. Sister's husband
6. Father 6. Father’s Father 6. Spouse's Brother
7. Mother 7. Father’s Mother 7. Spouse's Brother's wife
8. Father’s father 8. Mother’s Father 8. Spouse's Sister
9. Father’s mother 9. Mother’s Mother 9. Spouse's Sister's husband
10. Mother’s mother 10. Son 10. Father
11. Mother’s father 11. Daughter 11. Mother
12. Son 12. Son’s Son 12. Father’s Father
13. Son’s wife 13. Son’s Daughter 13. Father’s Mother
14. Daughter 14. Daughter’s Son 14. Mother’s Father
15. Daughter’s husband 15. Daughter’s Daughter 15. Mother’s Mother
16. Son’s son   16. Spouse's Father
17. Son’s Son’s wife   17. Spouse's Mother
18. Son’s daughter   18. Spouse's Father’s Father
19. Son’s daughter’s husband   19. Spouse's Father’s Mother
20. Daughter’s son   20. Spouse's Mother’s Father
21. Daughter’s son’s wife   21. Spouse's Mother’s Mother
22. Daughter’s daughter   22. Son
23. Daughter’s daughter’s husband   23. Son’s wife
    24. Daughter
    25. Daughter’s husband
    26. Son’s Son
    27. Son’s Son's wife
    28. Son’s Daughter
    29. Son’s Daughter's husband
    30. Daughter’s Son
    31. Daughter’s Son's wife
    32. Daughter’s Daughter
    33. Daughter’s Daughter's husband
    34. Father’s Brother
    35. Father’s Brother's wife
    36. Father’s Sister
    37. Father’s Sister's husband
    38. Mother’s Brother
    39. Mother’s Brother's wife
    40. Mother’s Sister
    41. Mother’s Sister's husband
     
* Under Section 56 of Income Tax Act, relation in reverse way is not covered (disputed).
   E.g. if 'A' is 'B's' father's brother, then 'A' is relative of 'B' however 'B' is not a relative of 'A'.
** However under Companies act relation in reverse way is also covered .