Menu
Taxability of gift
i want to know...
what is status of GIFT given by a COUSIN FATHER IN LAW (father in laws brother) >> (CHACHA SASUR) to his daughter in law of his real brother.?
whether it tantamounts to gift to RELATIVE
and clubbed with COUSIN FATHER-IN LAW or
is a third party GIFT> u/s 56 which is taxable beyond Rs.50000 ...pl enlighten..
Replies (2)
its not come under relative category...as per sec 56.
It is non-taxable IF given at the time of marriage.
Recent Topics :
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
- ROC FILINGS FY2025-26
Related Topics :
CAclubindia
