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Gift from a relative

This query is : Resolved 
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(Querist)
07 November 2013 Can i take a gift from my niece of Rs. 15 Lacs?
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CA JATIN TALREJA

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CA JATIN TALREJA (Expert)
13 November 2013 Dear Ankit
Gifts in excess of Rs.50000 are subject to tax as per sec 56(2), but neice is not covered meaning of 'relative' .Hence no tax liabilty will arise.
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