Gift tax

Cash recieipt from relative is exempt u/s 56(2)(vii)

Relatives means –

1.Spouse of Individual

2.Brother & Sister of Individual

3. Brother & Sister of Spouse of Individual

4.Brother & Sister of either of the parents of Individual

5.Any Lineal ascendants or descendants of the individual 

6.Any Lineal ascendants or descendants of the spouse of the individual

wife's father will be covered in the defination of relative u/s 56(2)(vii) in point 6.

therefore cash recieipt from father in law is exempt u/s 56(2)(vii).
 

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