Gift received from relative is not taxable in hands of recipient under section 56 of Income Tax Act. The persons who are considered as relatives are
In case of individual
Spouse of the individual
Brother or sister of the individual
Brother or sister of the spouse of the individual
Brother or sister of either of the parents of the individual
Any lineal ascendant or descendant of the individual
Any lineal ascendant or descendant of the spouse of the individual
Spouse of the person referred to in above points
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