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Gift taxability

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 March 2018 Is the gift received by father / mother from mariied daughter taxable ?
Also gift received by brother of married sister taxable?
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RAJA P M

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RAJA P M (Expert)
31 March 2018 No... The both of under the definition of Relatives. No more tax liability. It's fully exempted...
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
31 March 2018 Yes, gift from relatives is exempt
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