banner_ad

GIFT

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
15 March 2011 Sir,

Kindly let me know, whether gift received from my Father's Brother's Daughter is taxable or exempted.
Whether it comes under the term Relative.

Revert Back at your earliest.
Profile Image

Jainish shah

Profile Image

Jainish shah (Expert)
15 March 2011 Father's brother is defined as relative but daughter of Father's brother is not. So, gift directly received from her is taxable.

However you may plan as under:

Your father's brother's daughter will give a gift to your father's brother and then after your father's brother will gift you the same..this way it will bee exempt
Profile Image

CA.ViVeK M ACA

Profile Image

CA.ViVeK M ACA (Expert)
15 March 2011 Gift trasaction from a non relative shall be subject to tax u/s 56 ( 2).

Gift transaction from relative shall be exempted from the tax net.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
ARTICLESHIP 05 May 2026
ARTICLED ASSISTANT

JS ADVISORS

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details