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gift exemption totally

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Donor is grand father of husband . Dondee is son's son's wife .Gift totally exempt or not . please advise .
Replies (5)

What I get from your question is, that grandfather of the husband gave a gift to his granddaughter in law. If this is correct, then the gift is completely exempt and no taxability arises. As per income tax law, No tax is applicable if the gift is received from a relative and that relative is included in the definition of relative.

Since any lineal ascendant or descendant of the spouse of the individual is covered in the definition of relative. Therefore it is exempted.

Yes, it is exempted U/s 56(2).
Clubbing provision section 64 applicable or not in this situation regarding income of grand daughter
Daughter in law

What have you given her as a gift? It is cash or what?


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