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Gift tax
If father in law gives give above Rs12 Lac to daughter in law by cheque ,is gift tax is payable by daughter in law when she get gift by cheque from her father in law?
Replies (2)
Gift will be exempted in daughter in law hand.. ..Because gift received from relative is exempted under income tax ..
But here clubbing provision will apply. Income earned from gift will be taxable in father in law hand.
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