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Gift tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 January 2013 Dear ALL,

I would like to know whether;

1] Can A Son gift via cheque to his mother and

2] Can a Younger brother gift via cheque to his elder brother or to his sister in law

Regards
Anish
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Anand

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Anand (Expert)
04 January 2013 Gift can be given by any person to another. There is no law against giving gifts.
I presume, you would like to know about taxability of the gift so given
a) Son gifting via cheque to mother will be exempt in hands of mother since it is a gift to a relative who is a lineal ascendant of the individual

b) Younger brother gifting to elder brother is not taxable in hands of elder brother since it is a gift to a relative who is a brother of the individual

c) Younger brother gifting to sister-in-law i.e wife of brother it is exempt in hands of the sister-in-law since it is a gift to spouse of brother of the individual

Execute a gift deed in all such cases and make sure that person giving gift can prove his wherewithall to make such giftd.
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