Gift by father in law
This query is : Resolved
12 December 2021
Can a Father in law gift to daughter in law and if yes then how much amount is non taxable in the hands of daughter in law
12 December 2021
Father in law can gift any amount to daughter in law without any taxability; but due to clubbing provision any income generated out of it will be taxable in the hands of FIL.
14 December 2021
Thank you so much Sir but what if FIL is not alive now, will it be taxable in the hands of Daughter in law?
14 December 2021
IF FIL NOT ALIVE, DIL CANNOT GET GIFT.
SHE CAN GET INHERITANCE AS PER WILL OR FAMILY SETTLEMENT, WHICH WILL BE FULLY TAX EXEMPT.
SHE CAN GET INHERITANCE AS PER WILL OR FAMILY SETTLEMENT, WHICH WILL BE FULLY TAX EXEMPT.
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