Gift from first to second
This query is : Resolved
16 August 2013
Sir, my question is that If I give a gift to my sister around 40 lakhs, and my sister give the gift to his son-in-law around 39 lakhs.
So, Son-in-law amount 39 lakhs is calculated as a gift of not?
Or it is taxable or not?
So, Son-in-law amount 39 lakhs is calculated as a gift of not?
Or it is taxable or not?
16 August 2013
The gift is NOT taxable in the hands of the son-in-law as per the provisions of Section 56(2)(vii).
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