Relative

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YOGESH VASWANI

YOGESH VASWANI (Querist)
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21 October 2013 sir can a lady can give GIFT to her sister son & whether it is taxable or not

CA Pallav Singhania

CA Pallav Singhania (Expert)
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21 October 2013 Following r considered as relatives(in case of individual) under income tax act::

1) spouse of individual -----husband/wife

2)brother / sister of individual

3)brother/ sister of spouse of individual -----brother in law/sister in law

4)brother/ sister of either of parents of indiviual -----chacha/mama/bua/maasi

5) lineal ascendents/descendents of individual -----daada/daadi/naana/ naani

6)lineal ascendents/descendents of spouse of individual

7) spouse of persons mentioned abv(1---6)