How can I get tax rebate if I get 11 lakh cheque from my nana?
Menu
Income tax
Replies (8)
If it is gift, then not taxable.
is it gift
Yes... It will be treat as Gift. Based on Assessee and Nanad (Husband's Sister) transactions...
it's not husband's sister it's father of mother
I think he is not relative
but pls confirm it in section 56
but pls confirm it in section 56
Any lineal ascendant is a relative
Father's Mother is a relative
and gift from relative is not taxable
Father's Mother is a relative
and gift from relative is not taxable
| Originally posted by : Krishan kant | ||
 |
it's not husband's sister it's father of mother |  |
Dear., Reply based query for the Querist. If NANAD then it's under the definition of Relatives as per List of relatives covered under Section 56(2) of Income Tax Act,1961
Any Lineal ascendants or descendants of the individual
-Any Lineal ascendants or descendants of the spouse of the individual.
Recent Topics :
- REGARDING HSN CODE FOR WASHING JOB CHARGES
- Advance Tax Due Date 2026
- Query – Interest on Capital Received by Part
- Query - Section 164(2)(a) – Interpretation o
- Submission for Expert Opinion on Rectification of
- NRI since March 2023 – resident savings acco
- My All-Time Top 15 Indian Web Series
- Wrong date of invoice
- Paper 6 - IBS
- Chhath Puja 2026 Dates Timing Tithi
Related Topics :
CAclubindia
