Amount Transfer to Sister in Laws Account
This query is : Resolved
12 January 2020
I have one query. I had taken a Top up loan of 28 lakhs and I am going to transfer the amount into my Sister in laws account as they are going to purchase a land. Are there in tax implications.
12 January 2020
No tax implications on gift to such relations.
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13 January 2020
Gifts to Relatives are exempt under Income Tax Act. No Tax Implication.
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