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Gift

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 August 2018 Please let me know the Gift received from relatives is taxable and what is the limit one can give gift.
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
31 August 2018 Gift received from specified relatives is exempt under Income tax Act.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
03 November 2021 Gift from the following relatives is tax free under sec. 56(2) of IT act.
https://taxguru.in/income-tax/list-relatives-covered-under-section-562-income-tax-act1961.html
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