Income tax

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If it is gift, then not taxable.

Srinivas Pyata

543 Points Posted on 06 March 2018

is it gift

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 06 March 2018

Yes... It will be treat as Gift. Based on Assessee and Nanad (Husband's Sister) transactions...

Krishan kant

student

600 Points Posted on 06 March 2018

it's not husband's sister it's father of mother

Krishan kant

student

600 Points Posted on 06 March 2018

I think he is not relative

but pls confirm it in section 56

Srinivas Pyata

543 Points Posted on 06 March 2018

Any lineal ascendant is a relative
Father's Mother is a relative
and gift from relative is not taxable

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 06 March 2018

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

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 06 March 2018

Any Lineal ascendants or descendants of the individual -Any Lineal ascendants or descendants of the spouse of the individual.

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Prabhakar Tiwari

Srinivas Pyata

RAJA P M

Krishan kant

Krishan kant

Srinivas Pyata

RAJA P M

RAJA P M

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