Menu
One of my clients get money from her mother in law as a gift. So is it taxable?
My clients mother in law gave her 300000 as a gift. So is it taxable or not
Replies (4)
No, Gift recived from Mother in law is not taxable, as it's covered in defination of relatives.
Not taxable..
Not taxable..
Could you please let me know the section
Gift from relative is exempt as per Section. 56(2) of Income tax Act, 1961.
Defination of relative is given under Section. 2(41) of Income tax Act, 1961.
Defination of relative is given under Section. 2(41) of Income tax Act, 1961.
Very right opinion
Recent Threads
- AGM WITH SHORTER NOTICE
- 15CA/15CB Bulk Filing Automation Tool – Need
- GSTR 9 FY 2023-24 LATE FEE
- Should we go under Section 59 of IBC or Section 27
- HUF'S ISSUE
- Gst interest and penalty doubts
- TDS RATE ON RENT FOR NRI
- NBFC costing
- Taxablity of GSLI under Income Tax
- Final new course clarification
Related Threads
CAclubindia
