Exemption of gift from daughter to mother

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dilip phatak

dilip phatak (Querist)
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13 October 2018 Can mother can take gift from daughter without any tax

Dilip

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 October 2018 Yes gift to relative exempt from tax.

CA GUNJIT KAUR-FACULTY AT ICAI

CA GUNJIT KAUR-FACULTY AT ICAI (Expert)
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14 October 2018 YES UNDER INCOME TAX ACT THE GIFTS FROM RELATIVES ARE FULLY EXEMPT FROM TAX
AND MOTHER DAUGHTER RELATION FALLS WITHIN DEFINITION OF RELATIVES AS PER INCOME TAX ACT

dilip phatak

dilip phatak (Querist)
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14 October 2018 Thanks sirji for your reply

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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14 October 2018 Yes gift to relative is exempted falls under definition of relative
As per the Income tax act, the sum of money received from any of your relatives are fully exempt from tax. Here the “relatives” term defines by the Income Tax act as follows :

Spouse of the individual
Brother or sister of the individual
Brother or sister of the spouse of the individual
Brother or sister of either of the parents of the individual
Any lineal ascendant or descendant of the individual
Any lineal ascendant or descendant of the spouse of the individual
Spouse of the person referred to in clauses (ii) to (vi).
In case of a Hindu undivided family, any member thereof;

dilip phatak

dilip phatak (Querist)
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15 October 2018 Thanks alot for your guidance Sir

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Exemption of gift from daughter to mother

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