Hi Friends,
Please clear my doubt i.e.
1. Gift from Mother of Mother in law to grand daughter in law is exempt under IT Act.
2. Gift from Mother of Mother in law (Nani) to Grand Daughter (Major) is exempt under IT Act.
Reply me at ther earliest
Menu
Exemption of gift
Replies (1)
the relations you have mentioned in your questiones are not covered under defination of relative
hence gift is taxable in the hands of daughter if the same is exceeds INR 50000/- during the year
Recent Topics :
- TDS on property
- Company data for software
- Car purchase to be eligible for ITC
- GST Refund on payment to builder
- TDS u/s 194Q on electricity supply by DHBVN etc.
- Subject: Can I Apply for Fresh GST Registration on
- Additional place in GST RC
- Company 3 months old, INC-20A not filed, all 3 of
- How do I choose the Best GST Lawyers in New Delhi
- Loss on sale of residential flat after indexing al
Related Topics :
CAclubindia
