Gift
This query is : Resolved
07 February 2009
Can a niece give gift to her uncle ( Elder brother of her father )in view of the defination of relative u/s 2(41) of the I.T Act
07 February 2009
Yes. u/s 56(2)(v1) it is a gift exempted from income tax.
07 February 2009
An Uncle Can Received Gift from the following Person
1) His Brother and his Wife
2) His Sister and Her Husband
3) His Uncle and His Wife
4) His Aunty and her Husband (Bhuaji)
5) Linear Ascendant or Descendant
However Niece cannot give a gift to Uncle but he can received gift from his uncle
1) His Brother and his Wife
2) His Sister and Her Husband
3) His Uncle and His Wife
4) His Aunty and her Husband (Bhuaji)
5) Linear Ascendant or Descendant
However Niece cannot give a gift to Uncle but he can received gift from his uncle
07 February 2009
I stand corrected. Thanks to Mr.Shah.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- ITDS U/S.194T of Firm
- Journal entry of busniess expenses
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- Bank details not Visible on Traces Portal
- TDS ON EMAIL DOMAIN SERVICE BILL
- Filling ITR - U
- Form 140 tds
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
