Gift from relative
This query is : Resolved
Krishna Joshi
(Querist)
05 June 2019
a land received as gift from mother -in-law is taxable or
registration charges is rs 79856.
please guide me.
registration charges is rs 79856.
please guide me.
Amol S Joglekar
(Expert)
06 June 2019
it is taxable gift. Son in law is NOT covered in the list of "relative" for the purpose of section 56 of income tax act
Krishna Joshi
(Querist)
06 June 2019
so the tax is charge upon registration fees , mentioned before
Amol S Joglekar
(Expert)
06 June 2019
No. It is the value as mentioned in the sub registrar office ready recknor, as on the date of gift
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