Gift tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 July 2012
Dear Experts,
My father or husband can give me gift , without any limit? No gift tax on blood relation?
Thanks
My father or husband can give me gift , without any limit? No gift tax on blood relation?
Thanks
04 July 2012
Yes. Gifts received from "relatives" are not taxable and father and spouse are covered under the definition of relatives.
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