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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Can Brother-in-law Gift Money to Sister-in-law? Is there any limit?
Replies (5)
Quick Summary
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
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
No you can gift as it will comes under relatives
Yes, brother can gift any amount of money to sister without any tax implications, as it's exempt from tax.
All thanks for confirming on relation context.
Mr Deepak Kumar your point is true for non-relatives from my understanding.
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