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Tax on gift from uncle/aunt to nephew's wife

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Accounts
123 Points Posted on 24 June 2016

Is the Gift from Uncle/Aunt to Nephew's Wife taxable ? 
 

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On 24 June 2016 at 18:29 Report
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Chartered Accountant
2229 Points Posted on 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
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On 25 June 2016 at 13:06


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