Gift to daughter in law by father in law
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 November 2013
if a father in law gifts money or house property to his daughter in law what is the taxation impact for the daughter in law?
CA JATIN TALREJA
(Expert)
22 November 2013
Gifts received from father in law in without any upper limit though would be considered as gift from a relative and will not be taxable as income from other sources in the hands of daughter in law ,however the income arising directly or indirectly from such gifts will be taxable in the hands of father in law as per sec.64 under clubbing provisions
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