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Gift

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(Querist)
15 July 2020 gift given by nephew to his aunty (father's brothers wife) wheather taxable or not.
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swasti

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swasti (Expert)
16 July 2020 This would be a taxable transaction.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
05 November 2021 As per sec. 56(2) of the act for Chachi, nephew is not relative, hence the gift received by her, for any amount of Rs. 50,000/- or more will be taxable under IT act.




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