Gift tax
This query is : Resolved
satish kumar Chauhan
(Querist)
15 May 2014
My query is gift received from father inlaw or mother in law is taxable or exmept
thanks
thanks
15 May 2014
it is exempted u/s 56(2)..............
Sandeep Dharar
(Expert)
15 May 2014
It is fully exempted from Tax.
Sandeep Dharar
(Expert)
15 May 2014
Since parents in law comes under relative category.
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