gift

This query is : Resolved

Share Report Follow Query Ask a Query

CA NITESH G. SWAMI

CA NITESH G. SWAMI (Querist)
Follow

20 October 2009 as per income tax provisions which relative can give gift to individual.

chetan soni

chetan soni (Expert)
Follow

20 October 2009 For the purposes of this clause, relative means

(i) spouse of the individual;

(ii) brother or sister of the individual;

(iii) brother or sister of the spouse of the individual;

(iv) brother or sister of either of the parents of the individual;

(v) any lineal ascendant or descendant of the individual;

(vi) any lineal ascendant or descendant of the spouse of the individual;

(vii) spouse of the person referred to in clauses (ii) to (vi);]

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

20 October 2009 for the purpose of Section 56(2)(vi) relative means

(i) spouse of the individual;

(ii) brother or sister of the individual;

(iii) brother or sister of the spouse of the individual;

(iv) brother or sister of either of the parents of the individual;

(v) any lineal ascendant or descendant of the individual;

(vi) any lineal ascendant or descendant of the spouse of the individual;

(vii) spouse of the person referred to in clauses (ii) to (vi);]

So you can take gift from any of the above.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now