is gift to mother in law taxable?
if yes then who is the tax payer transferor or receiver?
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gift to mother in law
Replies (3)
Not taxable to either.........
if mother in law sale this asset then cost of consideration isprevious owner cost.
In case gift give in kind whether fall applicable limit. In case there should be sec 269ss disallowed and income tax office charge 100% penalty on issue so please about gift only received in cheque.
Cheque should be the best option for that.
Cheque should be the best option for that.
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