Gift tax
BUDDHADEB DAS (ACCOUNTANT) (47 Points)
28 February 2016
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 29 February 2016
Gift will be exempted in daughter in law hand.. ..Because gift received from relative is exempted under income tax ..
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 29 February 2016
But here clubbing provision will apply. Income earned from gift will be taxable in father in law hand.
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