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Gift tax

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(Querist)
22 October 2012 Whether it is Taxable in the hand of me if my uncle(Brother of my Mother) has gifted me.....
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swasti

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swasti (Expert)
22 October 2012 Maternal uncle comes in the definition of relative u/s 56 of the Income Tax Act and thus gift received from him would not be taxable in your hands.

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