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Gift received from father sister

Tax queries 651 views 5 replies
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Accountant
28 Points Posted on 03 September 2015

Gift received from father sister, is it taxble or not

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On 03 September 2015 at 14:46 Report
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CA in Practice
31 Points Posted on 03 September 2015

no it is not taxable, as father's sister is a relative

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On 03 September 2015 at 14:54
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Student
43 Points Posted on 03 September 2015
Gift received from Relative is not taxable. Father's sister is within the definition of Relative. So not taxable..
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On 03 September 2015 at 22:00
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Student
1309 Points Posted on 04 September 2015
True. But only his real sister and not cousin sister
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On 04 September 2015 at 11:13
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student
47 Points Posted on 04 September 2015
Gift is taxable u/s 56(2)...and relative s are defined u/s 2(31)....It is included in d definition of relative but if she is his real sister only...that means cousin are excluded
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On 04 September 2015 at 23:51
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Student
1309 Points Posted on 05 September 2015

Yes naveen I had said the same thing.

12 Reply
On 05 September 2015 at 11:50


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