Gift to mother-in-law

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Query: whether gift of money from daughter-in-law to mother-in-law is taxable. As per Section 56(2)(x), gifts from 'relatives' are exempt. Mother-in-law qualifies as relative (spouse of lineal ascendant of spouse). Hence gift is not taxable in hands of mother-in-law, though some confusion exists.

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"Do the Right Thing...!!!"
128157 Points Posted on 08 July 2018
Thank You for replies My Dear Mr Dhirajlal Rambhia Sir...
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On 08 July 2018 at 21:24
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2 Points Posted on 01 February 2023

This Video can help to clear all doubts:

https://www.youtube.com/watch?v=li8dCUGzjEI

 

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On 01 February 2023 at 19:40

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