GIFT TAX
This query is : Resolved
27 November 2016
whether any gift give by husband to his wife or son on birthday or aniverssery or any ocassion above rs.50000 is taxable or not
27 November 2016
No, above case gift is not taxable.
28 November 2016
no, gift from blood relation is never taxable.
28 November 2016
Gift by Husband to Son is not taxable but Gift by Husband to wife will attract clubbing provisions of income tax.
VK
28 November 2016
what if a person receives any plot from his father sister's husband on birthday
28 November 2016
Fathers Sister's Husband I.e Pufaji / Bhurosa Gift received is not taxable
04 November 2021
Exhaustive List of Relative under Section 56(2)
Sr no. Relative Covered under
1. Husband/wife Clause(i)
2. Brother and his wife Clause(ii)with(vii)
3. Sister and her husband Clause(ii)with(vii)
4. Wife’s bro. and his wife Clause(iii)with(vii)
5. Wife’s sister and her husband Clause(iii)with(vii)
6. Kaka – Kaki Clause(iv)with(vii)
7. Fua – Foi Clause(iv)with(vii)
8. Mama – Mami Clause(iv)with(vii)
9. Masa – Masi Clause(iv)with(vii)
10. Father – Mother Clause(v)with(vii)
11. Grandfather – Grandmother Clause(v)with(vii)
12. Son and his wife Clause(v)with(vii)
13. Daughter and her Husband Clause(v)with(vii)
14. Father in Law and Mother in Law Clause(vi)with(vii)
15. Grand Father in Law (GFIL) and Grand Mother in Law (GMIL) Clause(vi)with(vii)
Sr no. Relative Covered under
1. Husband/wife Clause(i)
2. Brother and his wife Clause(ii)with(vii)
3. Sister and her husband Clause(ii)with(vii)
4. Wife’s bro. and his wife Clause(iii)with(vii)
5. Wife’s sister and her husband Clause(iii)with(vii)
6. Kaka – Kaki Clause(iv)with(vii)
7. Fua – Foi Clause(iv)with(vii)
8. Mama – Mami Clause(iv)with(vii)
9. Masa – Masi Clause(iv)with(vii)
10. Father – Mother Clause(v)with(vii)
11. Grandfather – Grandmother Clause(v)with(vii)
12. Son and his wife Clause(v)with(vii)
13. Daughter and her Husband Clause(v)with(vii)
14. Father in Law and Mother in Law Clause(vi)with(vii)
15. Grand Father in Law (GFIL) and Grand Mother in Law (GMIL) Clause(vi)with(vii)
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