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.
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