Gift received from marriage Sister

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538 Points Posted on 08 October 2023
Dear Sir, I received gift from my marriad sister of Rs 40 lacs in bank , it is taxable to me ? any limits of gift with relatives.
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On 08 October 2023 at 21:52 Report
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A user received a substantial gift of Rs 40 lakhs from their married sister and is concerned about tax implications. The consensus is that gifts from close relatives, including sisters, are generally not taxable in India, regardless of the amount. However, one commenter suggests verifying the source of the sister's income, though this is debated by others.

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"Do the Right Thing...!!!"
128157 Points Posted on 08 October 2023
No, It's not taxable.
No limits...
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On 08 October 2023 at 22:05
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Profession
28271 Points Posted on 09 October 2023
Exceptions to 56(x) 2 blood relation.
But one condition needs to be verified .Source of sisters income.
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On 09 October 2023 at 09:21
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"Do the Right Thing...!!!"
128157 Points Posted on 09 October 2023
Originally posted by : sabyasachi mukherjee
Exceptions to 56(x) 2 blood relation.But one condition needs to be verified .Source of sisters income.

 

Ohh God...

Who told it's source of income verification for issuer...???

 

 

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On 09 October 2023 at 09:23
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538 Points Posted on 09 October 2023
Thanks
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On 09 October 2023 at 12:01

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