Taxation of gift
This query is : Resolved
19 September 2009
I want to know that whether cash Rs. 300000/- Without consideration received from son in law is taxable in the hands of individual.
19 September 2009
Exempted. u/s 56(2) any sum received from relative as gift is exempted from tax and
son in law comes under the difination of relative.
son in law comes under the difination of relative.
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