Please guide
Can mama give gift to bhanej (sister's son) and vice-versa??
Menu
Gift from relative under income tax
Replies (3)
Mama to Bhanej...tax free..Not taxable for Bhanej
Bhanej to Mama.. taxable in hand of Mama
So, Mama can give gift, but can't receive gift from Bhanej
Bhanej to Mama.. taxable in hand of Mama
So, Mama can give gift, but can't receive gift from Bhanej
Thank u... do u have chart of relatives for income tax purpose???
Relative definition is given in section 56(2) ma'am, you can look into
Recent Topic
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
Related Topics
CAclubindia
