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Cash Gift by Father in Law to Daughter in Law

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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?

Waiting for your views.
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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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