Gift under Will

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Arun (Querist)
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15 March 2011 Hi

while i am browsing on tax related to Gift items(amount), i found the following term.

Gifts under will.

can someone plz give me more details on that.

Thanks for your reply

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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15 March 2011 Gifts under will:

If a person makes a will and he want to gift some valuables, property or a sum of money,
after his death, such gifts are covered under this clause.

Gifts under will can be made to non-relatives also without attracting any tax liability U/s 56.

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