whether gift to grand daughter in law exempt
Gift to grand daughter in law
BHARAT (SALARIED / MANAGER TAXATION) (69 Points)
09 February 2016
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 09 February 2016
I think it is exempt. Any lineal ascendant or descendant of the individual or spouse of lineal ascendent/descendant of the individual is a relative as per definition. Grand daugher-in-law is spouse of grandson. I assume it is covered.
Ruchi
(CA)
(1410 Points)
Replied 09 February 2016
Yes, the gift is exempt as it is duly covered in the definition of relative.
Udgam Koomar
(Tax Technologist)
(1949 Points)
Replied 09 February 2016
Yes she is a relative under definition
Nikhil
(x)
(34 Points)
Replied 10 February 2016
Kamal vashist
(Accountant)
(183 Points)
Replied 10 February 2016
Yes she is covered under the definition of RELATIVE hence it is exempt
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