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Can Brother-in-law Gift Money to Sister-in-law? Is there any limit?

Tax queries 2221 views 5 replies
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47 Points Posted on 14 August 2021

Hi

I would like to understand if Brother-in-law gift money to Siater-in-law?  If so is there a limit? Will there be any tax implications for the same.

Vijay

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On 14 August 2021 at 19:45 Report
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791 Points Posted on 15 August 2021
I think yes limit is 50000. Brother- in-law giving money to sister in Law is exceed limit 50000 then he is Taxable under income tax and less then 50000 he is exempt its. my openion sir but please wait for another person replay this this querry
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On 15 August 2021 at 00:20
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363 Points Posted on 15 August 2021
Yes gift can be given by brother in law to the sister of his wife without any limit because relation is within the definition of relative
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On 15 August 2021 at 08:03
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Chartered Accountant
24588 Points Posted on 15 August 2021
No you can gift as it will comes under relatives
129 Reply
On 15 August 2021 at 12:13
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Chief Accountant
3150 Points Posted on 17 August 2021
Yes, brother can gift any amount of money to sister without any tax implications, as it's exempt from tax.
9 Reply
On 17 August 2021 at 02:31
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47 Points Posted on 20 August 2021

All thanks for confirming on relation context. 

Mr Deepak Kumar your point is true for non-relatives from my understanding.

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On 20 August 2021 at 00:11


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