MY DAUGHTER RECEIVED GIFT FROM MY MOTHER IN-LAW ,A CHEQUE.
IS IT TAX FREE.
Menu
GIFT TAX
Replies (4)
As Gift is received from lineal Ascendent and it falls under defination of relative. Therefore Gift is exempt from tax to your daughter.
exempt from income tax because. such gift received from relative Father or Mother of the individual
Brother (Bhai) or sister (Behin) of the individual
Son (Beta) or daughter (Beti) of the individual
Grand son (pota) or Grand daughter (poti) of the individual
Spouse of the individual i.e husband (pati) or wife (patni) of the individual
Sister’s Husband (Jija) or Brother’s Wife (Bhabhi) of the individual
Brother (sala) or sister (sali) of the spouse (Wife) of the individual
Brother (dewar) or sister (nanad) of the spouse (Husband) of the individual
Brother (Mama) or sister (Mausi) of the Mother of the individual
Mother’s Sister Husband (Mausa) of the individual
Wife’s brother’s wife of the individual
Father’s Brother (Chaha or Tau) of the individual
Father’s Brother’s Wife (Chachi or Tai) of the individual
Father’s Sister’s Husband (Fufa) of the individual
Father’s Sister (Bua) of the individual
Grand Father (Dada) or Grand Mother (Dadi) of the individual
Great Grand Father (Pardada) or Great Grand Mother (Pardadi) of the individual
Daughter’s Husband (Jawai) of the individual
Son’s Wife (Bahu) of the individual
Wife’s Father (Sasur) or Wife’s Mother (Saas) of the individual
Husband’s Father (Sasur) or Husband’s Mother (Saas) of the individual
Wife’s Grand Father (Dada Sasur) of the individual
Husband’s Grand Mother (Dadi Saas) of the individual
Husband’s Grand Father (Dada Sasur) of the individual
Wife’s Grand Mother (Dadi Saas) of the individual
Wife’s Great Grand Father (Bade Dada Sasur) of the individual
Husband’s Great Grand Mother (Badi Dadi Saas) of the individual
Husband’s Great Grand Father (Bade Dada Sasur) of the individual
Wife’s Great Grand Mother (Badi Dadi Saas) of the individual
Brother’s Wife (Bhabhi) of the individual
Mother’s Brother’s Wife (Mami) of the individual
Husband’s Brother’s Wife (Devrani or Jithani) of the individual
Brother (Bhai) or sister (Behin) of the individual
Son (Beta) or daughter (Beti) of the individual
Grand son (pota) or Grand daughter (poti) of the individual
Spouse of the individual i.e husband (pati) or wife (patni) of the individual
Sister’s Husband (Jija) or Brother’s Wife (Bhabhi) of the individual
Brother (sala) or sister (sali) of the spouse (Wife) of the individual
Brother (dewar) or sister (nanad) of the spouse (Husband) of the individual
Brother (Mama) or sister (Mausi) of the Mother of the individual
Mother’s Sister Husband (Mausa) of the individual
Wife’s brother’s wife of the individual
Father’s Brother (Chaha or Tau) of the individual
Father’s Brother’s Wife (Chachi or Tai) of the individual
Father’s Sister’s Husband (Fufa) of the individual
Father’s Sister (Bua) of the individual
Grand Father (Dada) or Grand Mother (Dadi) of the individual
Great Grand Father (Pardada) or Great Grand Mother (Pardadi) of the individual
Daughter’s Husband (Jawai) of the individual
Son’s Wife (Bahu) of the individual
Wife’s Father (Sasur) or Wife’s Mother (Saas) of the individual
Husband’s Father (Sasur) or Husband’s Mother (Saas) of the individual
Wife’s Grand Father (Dada Sasur) of the individual
Husband’s Grand Mother (Dadi Saas) of the individual
Husband’s Grand Father (Dada Sasur) of the individual
Wife’s Grand Mother (Dadi Saas) of the individual
Wife’s Great Grand Father (Bade Dada Sasur) of the individual
Husband’s Great Grand Mother (Badi Dadi Saas) of the individual
Husband’s Great Grand Father (Bade Dada Sasur) of the individual
Wife’s Great Grand Mother (Badi Dadi Saas) of the individual
Brother’s Wife (Bhabhi) of the individual
Mother’s Brother’s Wife (Mami) of the individual
Husband’s Brother’s Wife (Devrani or Jithani) of the individual
Sir, if an individual gifts immovable property to his Maternal Grandmother of over 50000 does it will be tax exempted ?
Respected Nikhil Sir & Rahul Sir please??
Recent Topic
- ITR-2 : cash income that does not fall under any h
- Debit note issued to supplier
- Ca pratik takkar imp list
- TDS EXECESS AMOUNT ADJUSTMENT
- What's the ONE thing about GSTR-2B / IMS reconcili
- Is GST Registration Mandatory for Freelancers in I
- ITR TO FILE
- Shift of Place of Business from one state to anoth
- Form 10E u/s. 89(1). Need clarification because Ex
- Long Term Capital Loss - Tata Capital unlisted sha
Related Topics
CAclubindia
