Gift from daughter in law,
This query is : Resolved
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k.b.nagesharao
(Querist)
13 May 2024
Shall the Father in law accepts gift from his daughter in law. with out paying the income tax.
Please give your valuable advise,
Thanks in advance
K.B.Nagesha Rao.
Please give your valuable advise,
Thanks in advance
K.B.Nagesha Rao.
Nikhil Kaushik
(Expert)
13 May 2024
yes. it is exempt from tax.
Dhirajlal Rambhia
(Expert)
13 May 2024
Yes, Gift received from DIL is tax exempt to father in law, as per sec. 56(2) of IT act.
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