Relative for gift under income tax


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Querist : Anonymous

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Querist : Anonymous (Querist)
05 April 2010 Whether mother's parent ( Nana / Nani )can gift to individual above 50000 Rs without attracting income tax

05 April 2010 Yes they can.

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 April 2010 Lineal ascedant is in direct line....can this include mothers parent ?

05 April 2010 I THINK YES. LET OTHER EXPERTS GIVE THEIR VIEW?

05 April 2010 YES,
include mothers parent also.

05 April 2010 Yes

05 April 2010 yes nana-nani is also includs in the definition of Relatives.


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