Brother wants to assist sister in property purchase but the 18L money transfer is done from brother's wife account to sister's account. Is sister will have to pay tax on the amount?
Brother wants to assist sister in property purchase but the 18L money transfer is done from brother's wife account to sister's account. Is sister will have to pay tax on the amount?
Gift should remain tax-free for sister.
Brother’s wife is also treated as “relative”.
Maintain proper gift documentation and banking trail for safety.
There is no gift documentation or agreement deed. Will wife get IT notice?
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