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Gift to
how much a father in law can gift to his daughter in law is their any limts.
Replies (2)
No limits, as it is non-taxable. However, gift deed or an affidavit documenting such gift transfer is required to be prepared. Clubbing provision will apply.
Father in law is under the purview of relative under the IT act,
So no tax on gift from father in law..
No upper limit, even if he gifts 1 crore or more no tax on gift...
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