Gift from Mama ji

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17 Points Joined May 2021
Recently my mamaji has transferred 25 Lac to my bank account as gift.

will i have to pay tax on it?
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On 20 April 2022 at 20:03 Report
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CA
10436 Points Joined March 2019
No it is exempt as he covers in the definition of relative under income tax act.
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On 20 April 2022 at 22:32
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28118 Points Joined May 2017
Gift from blood relation exempted
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On 21 April 2022 at 09:47
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Chartered Accountant
5010 Points Joined March 2020

Yes,  exempted under the Income Tax Act

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On 21 April 2022 at 12:20
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132 Points Joined May 2021
Exempted,since your mamaji is covered within definition of relative
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On 22 April 2022 at 15:24


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