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Gift u/s 56

This query is : Resolved 
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(Querist)
19 July 2011 Mr. A born in Family "X" is adopted by family "Y". So in such case if gift is recieved from a blood relative ie. a relative from family "X" would it still be considered as relative and would stand exempt under sec. 56? and gift recieved from a relative of adopted family would be exempt under sec 56.

In short would gift recieved from both the families stand exempt or not?
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Amol Gopal Kabra (CA,CS,DISA)

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Amol Gopal Kabra (CA,CS,DISA) (Expert)
19 July 2011 It will stand exempt only limited to Mr. A. If Old Family Member of Mr. A gift to New Family Members of Mr. A (except his spouse) then such gift shall be taxable.
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gautam

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gautam (Querist)
27 July 2011 I am not asking of family members recieving any gifts. The query is whether a gift recieved by a person who is adopted child from both the families would be exempt?
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