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
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Gift taxable or excempt
Replies (2)
1. No. It would be taxable.
2. That way possible ...Exempted both transactions.
Refer exemptions of Sec 10(56)(2)
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