Dear Friends,
What are the tax implications if a daughter-in-law gifts cash from her own earnings to her mother-in-law ?
1. Is it taxable in the hands of mother-in-law ?
2. Is the income generated from this cash gift will be clubbed with the income of daughter-in-law ? i.e Is daughter-in-law liable to pay tax on the income earned by mother-in-law from the gifted money ?
Thanks in advance for your reply.
1. not taxable in the hands of mother in law as a gift from relative is not taxable...
2.it wont be clubbed...income will be taxable in the hands of mother in law only...
| Originally posted by : Sunshine... | ||
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1. not taxable in the hands of mother in law as a gift from relative is not taxable... 2.it wont be clubbed...income will be taxable in the hands of mother in law only... |
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Agree with Sunshine...
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