About Gift Tax
This query is : Resolved
17 March 2008
Can you please tell me can father in law gift to daughter in law . is that amount is taxable , in whose hands.
17 March 2008
INCOME ARISING FROM SUCH GIFT SHALL REMAIN TAXABLE IN HANDS OF FATHER IN LAW.
17 March 2008
gift tax is abolished now and if father in law transfer any property to daughter in law without any consideration then income from such asset will be taxable in hands of transferor.
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