Gift tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 December 2011
Whether gift received from husband or from father or mother of husband is taxable in the hands of wife.
Dintakurthi Tirumala
(Expert)
06 December 2011
No it is exempted. Gift received from relatives is exempted for the purpose of income tax relatives definition includes spouse, parents and parents of spouse.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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