Taxation of gifts from relatives
This query is : Resolved
Umapati Mishra
(Querist)
28 April 2024
I know that gifts from specified relatives is tax free. But, I want to know whether gifts having value more than Rs 50k per FY from brother's son are taxable.
Umapati Mishra
Umapati Mishra
CA R SEETHARAMAN
(Expert)
28 April 2024
Yes, it's taxable...
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