Poonawalla fincorps
Poonawalla fincorps

Gift

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 June 2012 Is gift (sum of money)given by the father to his married daughter is eligible for exemption u/s 56 of Income Tax Act, i.e is married daughter a relative?
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
18 June 2012 Yes, She is a relative of the father as there is no provision regarding married or unmarried.

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