Tax implications of gift to maternal uncle
This query is : Resolved
03 April 2025
Sir,
My question is :
Why gift money to maternal uncle is taxable u/s 56(2)(x) if brother of parent of an individual is counted as relative according to section 2(41) of income tax,1961 ? My maternal uncle is certainly the brother of my mother who is my parent ?
Also please clarify if gift deed can be made now for gift given in the past.
Thank you
My question is :
Why gift money to maternal uncle is taxable u/s 56(2)(x) if brother of parent of an individual is counted as relative according to section 2(41) of income tax,1961 ? My maternal uncle is certainly the brother of my mother who is my parent ?
Also please clarify if gift deed can be made now for gift given in the past.
Thank you
03 April 2025
As per sec. 56(2) IT act, niece is not relative for uncle... hence gift received from niece is taxable..
04 April 2025
Ok thank you sir, but is uncle relative for niece ? What about gift received from uncle ?
04 April 2025
Reverse is true, for niece: uncle being 'Brother or sister of either of the parents' is relative as per the sec. 56(2)(x) IT act; hence niece can get tax free gift/s from uncle or Bua.
04 April 2025
Thank you sir for your kind help
04 April 2025
You are welcome.
29 September 2025
Good luck..
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