banner_ad

Gift to daughter of sister

This query is : Resolved 
Profile Image

Profile Image

(Querist)
28 March 2012 A person (X) has given a gift of Rs. 115000/- to his sister's daughter( Y0.

I want to know on following points-

1. Whetehr this relation ( sister's daughter) is in relative defination?

2. Whether it is taxable in hand of X or
Y.?
Profile Image

Yogesh Agarwal

Profile Image

Yogesh Agarwal (Expert)
28 March 2012 Your question is answered as below:
1) This definition is not there in the definition of relative...

2) Hnece it is taxable in the hands of receiver that is "Y" in your case...
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
29 March 2012 Yes this relation is covered under the definition of relative as per following definition provided in Explanation to Section 56(2)(vi):

Relative means, inter alia, brother or sister of either of the parents of the individual

So from Y's point of view, her mother's brother (her mama) has gifted her a sum of money and accordingly this sum is NOT TAXABLE in the hands of Y.

Further, there is no tax implication for the donor (Y's mama).
Profile Image

C A S.S.Agarwal, M.Com.,LL.B,

Profile Image

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
14 April 2012 Experts have given proper reply to your query and I agree with them
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
14 April 2012 Mr CA SS Agarwal, please try to add value with your replies.

Do not add unnecessary replies to a query.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details