Gift & income tax
Tapas Samadder (273 Points)
01 January 2024
Dear sir, son in law gift money ( Rs.50 lac) to his mother in law, mother in law pay income tax or not. pls
Tapas Samadder (273 Points)
01 January 2024
RAJA P M
("Do the Right Thing...!!!")
(127542 Points)
Replied 01 January 2024
Sharath chandra
(Accountant)
(1215 Points)
Replied 01 January 2024
RAJA P M
("Do the Right Thing...!!!")
(127542 Points)
Replied 01 January 2024
| Originally posted by : Sharath chandra | ||
 |
Please read section 56 2 of income tax act. and definition of relative in it act. |  |
Please don't take his reply related to query or he knows the details based on query...
CA Raj Doshi
(Practising CA)
(8820 Points)
Replied 01 January 2024
It's taxfree in the hands of mother in law
Rgds
CA. Raj Doshi
R C D & Co.
Chartered Accountants
Kandivali West,Mumbai
CAclubindia
