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Amount Transfer to Sister in Laws Account

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(Querist)
12 January 2020 I have one query. I had taken a Top up loan of 28 lakhs and I am going to transfer the amount into my Sister in laws account as they are going to purchase a land. Are there in tax implications.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
12 January 2020 No tax implications on gift to such relations.
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CA Shailesh +91 9393926464

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CA Shailesh +91 9393926464 (Expert)
13 January 2020 Gifts to Relatives are exempt under Income Tax Act. No Tax Implication.




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