Is the Gift from Uncle/Aunt to Nephew's Wife taxable ?
Tax on gift from uncle/aunt to nephew's wife
Kaushik (Accounts) (123 Points)
24 June 2016
1 Replies
CA Harshal Totla
(Chartered Accountant)
(2229 Points)
Replied 25 June 2016
if you are asking from point of view of nephew's wife, uncle/aunt of spouse doesn't comes in definition of relative as per income tax act, so gifts will be taxable if total value of such gift exceeds Rs.50000 in previous year
Recent Topics
- Deduction for leave encashment 10AA
- Inadvertently filled and filed Form 10-IEA like la
- Delivery challan e-way bill
- LTCG Section (B1-B12) for RSU Sale after Jul/24
- Regarding Hackathon Prize W-8BEN India-US Tax Trea
- Digital1234
- Unable to claim Deduction in ITR 2 u/s 80 CCD(2)
- FDI-FEMA-Interest on Loan to Mauritius based wholl
- GSTR-4 Return in composition scheme
- Income tax - Forms related
Related Threads
Trending Online Classes
-
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
CA Nipun Arora03 September 2025 -
GST LIVE Certification Course - 43rd Weekdays Batch(With Govt Certificate)
Industry Expert15 September 2025
CAclubindia
