Gift from brother or sister in law

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Shailendra Kumar (Querist)
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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.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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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

Shailendra Kumar (Querist)
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25 September 2024 Need more help personally. How to connect you

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 September 2024 Good luck.

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