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Gift other then blood relation

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 April 2016 Dear sir,
Mr. X has given gift Rs. 25000/- to Mr.
Y other then blood relation please clarify weather this gift will be exempt in both the person's hand Mr. x and Mr. Y

Regard
Rahul jaiswal
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
07 April 2016 Not taxable. Gift upto Rs 50000 is exempt even if it is received from other than relatives defined in Section 56(2)(vii)(e).

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