Gift
This query is : Resolved
01 February 2016
Do Father's brothers' wives and Father's Brothers' children come under the definition of relative for availing the exemption relating to receipt of gift.
Would it be taxable if a person receives gift from the above said people?
Would it be taxable if a person receives gift from the above said people?
01 February 2016
In relative definition of an 'individual'
1. includes father's brother's spouse;
2. father's brother's children are not covered.
In case any gift received from 2 above is taxable.
1. includes father's brother's spouse;
2. father's brother's children are not covered.
In case any gift received from 2 above is taxable.
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