Taxability of gift

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prop
25 Points Posted on 23 August 2013
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..
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On 23 August 2013 at 17:23 Report
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Finance Professional
604 Points Posted on 23 August 2013

its not come under relative category...as per sec 56.

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On 23 August 2013 at 17:38
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Wealth Manager
5293 Points Posted on 23 August 2013

It is non-taxable IF given at the time of marriage.

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On 23 August 2013 at 20:08

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