Gift
This query is : Resolved
27 February 2014
sir, is gift given to spouse of a son exempt from tax ???
27 February 2014
gift consisting of cash and movable items given to wife of son is exempt from tax. she is covered under the definition of relative given in section 56 of the Act.
03 March 2014
yes as mother or father in law and daughter in law are relatives as per expl to sec 56(2),
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