Gift
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 March 2014
It is taxable to received gift from mother in law.
04 March 2014
no..it is not taxable...you get covered under the definition of relative under "spouse of lineal descendent"
04 March 2014
NO AS SHE IS IN DEF OF RELATIVE AS PER EXPL TO SEC 56(2).
04 March 2014
Tushar please refer point VII of the definition...(vii) - "spouse of the person referred to in clauses (ii) to (vi)"
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