27 August 2013
Hello Sir My question is regarding gift of immovable commercial property (>50000). Can assessee gift property to her husbands-brother's spouce. Does this relation comes under relative as per income tax. And if it does then what are the latter formalities.
11 October 2013
Wife of husband's brother is also a relative as per Section 56(2)(vii) and accordingly property can be transferred without any tax implications.
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