Cash Gift by Father in Law to Daughter in Law

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This discussion explores whether a cash gift exceeding Rs. 50,000 from a father-in-law to his daughter-in-law is subject to tax in India. While gifts from relatives are generally exempt from income tax, the potential for clubbing of income under Section 64 of the Income Tax Act is raised. Experts confirm that the gift itself is not taxable, but any income generated from the gifted amount may be subject to clubbing provisions.

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(Querist)
23 October 2020 Hi Experts,

If Father in Law gives Cash gift more than Rs. 50,000/- to his Daughter in Law, is it taxable for Daughter in Law? Whether clubbing of income concept may be attracted?

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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
23 October 2020 Gifts from relatives is exempt from tax
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Prakash Kochar

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Prakash Kochar (Expert)
28 October 2020 Gift amount will not be taxable being relative.
Income from gifted amount will be covered u/s. 64 of I Tax Act -Clubbing provision.
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