can i give gifts to my mother in law for Rs 500000/- is this right income tax point of view
can i give gifts to my mother in law for Rs 500000/- is this right income tax point of view
The person whom you are making gift is covers under the Defination of a "Relative" ,so therefore there is not any possibility of applicability of tax on the same.
There is no problem in gifting this amount.
CMNITY HIRE
New Delhi
Others
View Details
SSGS and Associates
Chennai
CA Inter
View Details
CAclubindia
