banner_ad

Gift received from father sister

Tax queries 659 views 5 replies
User Avatar

Accountant
28 Points Posted on 03 September 2015

Gift received from father sister, is it taxble or not

0 Reply Share Follow
On 03 September 2015 at 14:46 Report
Replies (5)
User Avatar

CA in Practice
31 Points Posted on 03 September 2015

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

Reply
On 03 September 2015 at 14:54
User Avatar

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..
Reply
On 03 September 2015 at 22:00
User Avatar

Student
1309 Points Posted on 04 September 2015
True. But only his real sister and not cousin sister
Reply
On 04 September 2015 at 11:13
User Avatar

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
Reply
On 04 September 2015 at 23:51
User Avatar

Student
1309 Points Posted on 05 September 2015

Yes naveen I had said the same thing.

Reply
On 05 September 2015 at 11:50


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details