Gift
This query is : Resolved
25 September 2014
1)Nephew can give gift to his father's brother or father's brother wife
2)Daughter-in-law can give gift to his father - in - law & mother - in -law
3)son/daughter can give gift to father/mother or grand father/mother or brother/sister
4)father/mother can give gift to his son/daughter or son in law or daughter in law or grand daughter in law
5)I / My wife can give gift to my brother-in-law and his wife
all above are taxable gift or not
2)Daughter-in-law can give gift to his father - in - law & mother - in -law
3)son/daughter can give gift to father/mother or grand father/mother or brother/sister
4)father/mother can give gift to his son/daughter or son in law or daughter in law or grand daughter in law
5)I / My wife can give gift to my brother-in-law and his wife
all above are taxable gift or not
Nikhil Kaushik
(Expert)
25 September 2014
1. not taxable. covered under spouse of brother of parents of individual
2. not taxable. covered under any lineal ascendent of the spouse of individual
3. not taxable. covered under any lineal ascendent of the individual
4. not taxable. covered under any lineal descendent and spouse of descendent of the individual
5. not taxable. covered as brother of individual/brother of spouse of the individual/spouse of the brother of the spouse of the invididual
2. not taxable. covered under any lineal ascendent of the spouse of individual
3. not taxable. covered under any lineal ascendent of the individual
4. not taxable. covered under any lineal descendent and spouse of descendent of the individual
5. not taxable. covered as brother of individual/brother of spouse of the individual/spouse of the brother of the spouse of the invididual
25 September 2014
refer to def of relatives under explanation to sec 56(2).
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