Regarding gift from sister's son.

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 June 2012 Dear Sir,

If Sister's Son (mausi ka Beta) Wants to gift cash to Sister (Mausi) and to His Son.

Then what will be the tax treatment and tax liability about this.

Please reply.

Thanks

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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15 June 2012 Such gift's are tax free as are being made to relatives. These are not having any tax implication
.
It seems that in the query, relationship, has been wrongly defined. Yet it is evident that all the persons are relatives.
.

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