What points to be considered during statutory audit of bank
This query is : Resolved
09 March 2014
gift frm sons wife is taxable or exempt
09 March 2014
give me suggestions regarding this.
09 March 2014
yes it shall be exempt....son's wife is covered under "spouse of any lineal descendant"
09 March 2014
Yes its exempt. Please see the details from link given below---
https://www.caclubindia.com/forum/relatives-u-s-56-2-vii-from-whom-gift-is-permissible--98674.asp#.UxvIa01DHVI
https://www.caclubindia.com/forum/relatives-u-s-56-2-vii-from-whom-gift-is-permissible--98674.asp#.UxvIa01DHVI
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