Exemption for gift receipts

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 January 2016 One of my Client A got married with B. The A and B got a male child C. After birth of C, the B has expired. The A has again married D after death of B. Then A and D got female child E. Now the children are adults. The C - brother wants to give a Gift of Rs.3,00,000/- to E - sister. Even though the C is a brother of E, they have different parents, only the father is same but the mother is different. Let me know whether the Gift given by brother-C to his sister-E is exempt u/s 56 2(vi) or is it taxable in the hands of E as GIFT not received from specified relative. Kindly clarify

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
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27 January 2016 Gift received from brother is exempted u/s 56(2)(vii)(e). Brother is a relative and brother include both whole and half blood brother as per many legal dictionaries.