Gift taxable or excempt

If bhanja give gift to mama whether taxable to mama and if taxable then can he give to his mother and then in turn mother give to brother  whether there will be any objection in that from taxation point

Replies (2)
Quick Summary
This discussion explores the tax implications of receiving gifts within a family in the UK. It clarifies that while some gifts may be taxable, specific exemptions, such as those under Section 10(56)(2), can apply to transactions between close relatives like a nephew to an aunt or a mother to a brother. The advice suggests that structuring gifts through different family members can potentially make them exempt from taxation.

1. No. It would be taxable.

2. That way possible ...Exempted both transactions.

Refer exemptions of Sec 10(56)(2)

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