Tax consequences
This query is : Resolved
03 January 2025
If an individual gives a gift around 1 crore to his uncle (property or money),
then what are the tax consequences in the hands of such individual and his uncle both?
then what are the tax consequences in the hands of such individual and his uncle both?
03 January 2025
Gift received by any individual from nephew or niece will not be considered as gift received from “Relative” As it is received by uncle/aunty from Nephew / Niece, it will not be tax free. Uncle will be liable for tax at slab rate. No liability over Nephew/Niece.
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03 January 2025
IS CAPITAL GAIN WILL ATRACTED IN THE HAND OF SUCH NEPHEW/NIECE..??
03 January 2025
No.
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