Relatives whom gift is permissible under i.t act
This query is : Resolved
iaxminarayan bhattad
(Querist)
21 July 2012
Sir,
Ramesh & Suresh both are own brothers, Ramesh son is Vivek and his (vivek's) wife is Rashmi.
Suresh wife is Anita.
1)Anita received gift from Rashmi (who is vivek's wife)
2)Rashmi received gift from anita
may i know
1)this is comes under Relative definition? and
2)if it comes that will club under provisions?
Ramesh & Suresh both are own brothers, Ramesh son is Vivek and his (vivek's) wife is Rashmi.
Suresh wife is Anita.
1)Anita received gift from Rashmi (who is vivek's wife)
2)Rashmi received gift from anita
may i know
1)this is comes under Relative definition? and
2)if it comes that will club under provisions?
21 July 2012
1. Anita & Rashmi are NOT relatives for the purpose of Section 56(2)(vii).
2. Clubbing provisions will NOT apply.
2. Clubbing provisions will NOT apply.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- Working on Gold wastage during Melting of old gold jewellery
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Capital Gains Tax on Inherited Mutual Fund
- TDS- 2026-27 Q1 Correction
- Gift to nri relatives residing in usa
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
