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Gift to nephew

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Indira Priyadarsini Kota

Indira Priyadarsini Kota (Practice) (590 Points)
Replied 20 January 2021

Uncle is covered in the definition of relatives and hence gift received from uncle is exempt. But niece and nephew are not included in the definition of relatives and hence gift from them is taxable.


Vinit Maheshwari

Vinit Maheshwari (4 Points)
Replied 06 November 2021

I understand that nephew is exempt, but what is tax trerment in hand of uncle


KALPESH JOSHI

KALPESH JOSHI (215 Points)
Replied 06 November 2021

In simple words not taxable.


Vinit Maheshwari

Vinit Maheshwari (4 Points)
Replied 06 November 2021

For both not taxable?



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