Amount Transfer to Sister in Laws Account
This query is : Resolved
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Deepak Khatri
(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.
CA R SEETHARAMAN
(Expert)
12 January 2020
No tax implications on gift to such relations.
Message likes :
1 times
13 January 2020
Gifts to Relatives are exempt under Income Tax Act. No Tax Implication.
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