COMPARATIVE CHART FOR LIST OF RELATIVES UNDER INCOME TAX ACT AND COMPANIES ACT |
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| Companies Act (Disclosure of Related Party Transactions)** |
Income Tax Act (Tax Audit and Specified Domestic Transactions Section 40A(2)(b) & 92BA) |
Income Tax Act (Gift under Section 56)* |
| 1. Spouse | 1. Spouse | 1. Spouse |
| 2. Brother | 2. Brother | 2. Brother |
| 3. Brother’s wife | 3. Sister | 3. Brother's wife |
| 4. Sister | 4. Father | 4. Sister |
| 5. Sister’s husband | 5. Mother | 5. Sister's husband |
| 6. Father | 6. Father’s Father | 6. Spouse's Brother |
| 7. Mother | 7. Father’s Mother | 7. Spouse's Brother's wife |
| 8. Father’s father | 8. Mother’s Father | 8. Spouse's Sister |
| 9. Father’s mother | 9. Mother’s Mother | 9. Spouse's Sister's husband |
| 10. Mother’s mother | 10. Son | 10. Father |
| 11. Mother’s father | 11. Daughter | 11. Mother |
| 12. Son | 12. Son’s Son | 12. Father’s Father |
| 13. Son’s wife | 13. Son’s Daughter | 13. Father’s Mother |
| 14. Daughter | 14. Daughter’s Son | 14. Mother’s Father |
| 15. Daughter’s husband | 15. Daughter’s Daughter | 15. Mother’s Mother |
| 16. Son’s son | 16. Spouse's Father | |
| 17. Son’s Son’s wife | 17. Spouse's Mother | |
| 18. Son’s daughter | 18. Spouse's Father’s Father | |
| 19. Son’s daughter’s husband | 19. Spouse's Father’s Mother | |
| 20. Daughter’s son | 20. Spouse's Mother’s Father | |
| 21. Daughter’s son’s wife | 21. Spouse's Mother’s Mother | |
| 22. Daughter’s daughter | 22. Son | |
| 23. Daughter’s daughter’s husband | 23. Son’s wife | |
| 24. Daughter | ||
| 25. Daughter’s husband | ||
| 26. Son’s Son | ||
| 27. Son’s Son's wife | ||
| 28. Son’s Daughter | ||
| 29. Son’s Daughter's husband | ||
| 30. Daughter’s Son | ||
| 31. Daughter’s Son's wife | ||
| 32. Daughter’s Daughter | ||
| 33. Daughter’s Daughter's husband | ||
| 34. Father’s Brother | ||
| 35. Father’s Brother's wife | ||
| 36. Father’s Sister | ||
| 37. Father’s Sister's husband | ||
| 38. Mother’s Brother | ||
| 39. Mother’s Brother's wife | ||
| 40. Mother’s Sister | ||
| 41. Mother’s Sister's husband | ||
| * Under Section 56 of Income Tax Act, relation in reverse way is not covered (disputed). | ||
| E.g. if 'A' is 'B's' father's brother, then 'A' is relative of 'B' however 'B' is not a relative of 'A'. | ||
| ** However under Companies act relation in reverse way is also covered . | ||
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