Can father in law gift cash to his daguther in law. Can this is tax free inomce.
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Gift can be given to daughter in law
Replies (6)
after marrying his son she becomes part of the family!!so if gift or money given during marraige or after is tax free income!!!this is my opinion im not sure better keep on searchiing!!!
It is tax-free. Better prepare a gift deed.
But wait for other to reply with regards to clubbing (if she invest the cash and the returns therefrom shall be clubbed with your income)
The gift as such is tax free but if the gifted money is invested by her then clubbing of income provisions will apply i.e income earned from the investing the money gifted by you will be included in your income.
She is a relative of assessee.
Any gift given in cash or kind to a relative is exempt from Income Tax u/s 57(2).
I agree with Pooja's mentioned clubbing provisions also.
Yaa the clubing provisions aptly matches with what pooja had told..
Agreed with all experts.
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