Poonawalla fincorps
Poonawalla fincorps

Gift

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 March 2014 Dear Sir,

My Sister-in-law ( My Elder Brother's wife) can give me a gift of Rs. 5 lk for AY 2014 - 15, whether it is taxable or exempted.
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
19 March 2014 Gift received from relatives is NOT taxable u/d 56(2)(vii).

Wife of brother is covered in the definition of relative.

Accordingly gift received from brother's wife is NOT taxable in your hands.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


EasyOFFICE CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links