Cash gift to daughter in law u/s 64 applicable
This query is : Resolved
18 October 2020
Female i.t. Assess cash gift to daughter in law rs:1,50,000/- in f y.29-20.
Question:
This transaction u/s 64 which assess applicable( clubbing of income)
Question:
This transaction u/s 64 which assess applicable( clubbing of income)
18 October 2020
There is a provision of clubbing of income arising to the daughter-in-law which can sometimes be clubbed with the income of the father-in-law or the mother-in-law. Thus, it is provided in Section 64(1 )(vi) that if the daughter-in-law receives any gift from the father-in-law or mother-in-law, the income arising out of or in relation to such gifts is considered as the income not of the daughter-in-law, but of the father-in-law or the mother-in-law making the gift.
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