Taxability for gifts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 May 2015
If a brother gifts by cheque to his unmarried sister,suggest taxability and exemption limits.
30 May 2015
there is no tax applicable in this case as both are covered under definition of relatives u/s 56(2) and transactions between relatives are not taxable.
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