gift tax
This query is : Resolved
16 March 2011
My query is whether gift received from Aunt. i.e to be precise from Father's Brother's wife is taxable or not.
16 March 2011
It will be exempt. As Aunt is the spouse of brother of your father.
Pl Refer Explanation to Section 56(2)(vi)
Pl Refer Explanation to Section 56(2)(vi)
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