Gift from brother or sister in law
This query is : Resolved
Quick Summary
Shailendra Kumar
(Querist)
24 September 2024
Sir please advise
I am getting around 15 lacs as gift from my relatives. Is this taxable? If yes, how can I save my tax. I searched in Google, but it shows that gifts from immediate relatives are not taxable.
I am getting around 15 lacs as gift from my relatives. Is this taxable? If yes, how can I save my tax. I searched in Google, but it shows that gifts from immediate relatives are not taxable.
Dhirajlal Rambhia
(Expert)
24 September 2024
Gift from brother or SIL is tax exempt u/s. 56(2)(x) IT act, as they are 'relative' to the assessee.
Shailendra Kumar
(Querist)
25 September 2024
Need more help personally. How to connect you
Dhirajlal Rambhia
(Expert)
26 September 2024
Good luck.
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