Gift received from father sister, is it taxble or not
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Gift received from father sister
Replies (5)
no it is not taxable, as father's sister is a relative
Gift received from Relative is not taxable. Father's sister is within the definition of Relative.
So not taxable..
True. But only his real sister and not cousin sister
Gift is taxable u/s 56(2)...and relative s are defined u/s 2(31)....It is included in d definition of relative but if she is his real sister only...that means cousin are excluded
Yes naveen I had said the same thing.
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