Gift received by married daughter from grand mother
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 May 2018
Dear All,
Whether gift received by married daughter from her grand mother is taxable under Income Tax or not?
Whether gift received by married daughter from her grand mother is taxable under Income Tax or not?
CA R SEETHARAMAN
(Expert)
15 May 2018
Not taxable as gift received from relatives.
15 May 2018
Gift received by an individual from his/ her grandmother is NOT taxable as per Section 56(2)(vi) of the Income Tax act.
16 May 2018
Not taxable, but section is 56(2)(x) w.e.f 1-4-2017.
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