Gift

Gift to relative is not taxable u/s 56(2)...So there wont be any tax liabilities..But if the jewellery is invested and yields certain income, it would be clubbed with the original owner's income....

Cost of acquistion fr the daughter in law would be NIl...

agree with sunshine except one thing

COA of jewellery in the hands of daughter in law shall be cost to the previous owner. S 49(1).

https://taxbykk.blogspot.com/

my mistake...Thank u sir....

Gift to relative is not taxable u/s 56(2)...So there wont be any tax liabilities..But if the jewellery is invested and yields certain income, it would be clubbed with the original owner's income....

Cost of acquistion fr the daughter in law would be cost to the previous owner

Agreewith Mayank

Gift to relative is not taxable.

Cost to prevoius owner is the cost in books of Donee.

will this jwellery will come under exempted income of daughter in law
 

THANKS ALL

It will be shown under assets and added with capital.

Gift From Relative is not Taxable at all but prepare the gift deed n get it registered.