can u tell me whether mother's sister(mausi) is covered under the definition of relative under section 56(2),whether mausi can gift to his sister son i.e. bhaanja,is it exempt under section 56 thanks in advance
can u tell me whether mother's sister(mausi) is covered under the definition of relative under section 56(2),whether mausi can gift to his sister son i.e. bhaanja,is it exempt under section 56 thanks in advance
Yes, Mother's sister is included in definition of relative and therefore gift received from her is not taxable
Mahesh garg is right... Mother's sister fall in defination of relative under IT Act
yes, mother's sister is a relative under the Act
O P Bagla & Co LLP
New Delhi
CA Inter
View Details
SSGS and Associates
Chennai
CA Inter
View Details
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
View Details
Aggarwal Sarawagi and Co
New Delhi
CA
View Details
CAclubindia
