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Gift Provision

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(Querist)
26 December 2008 Sir I want to Know Whether Gift in cash given by son in law to mother in law and Brother in law will be taxable or not?
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
26 December 2008 Not taxable
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C A GROUP COACHING

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C A GROUP COACHING (Expert)
26 December 2008 GIFT NOT TAXABLE BUT CASH TRANSACTION IF FOR BIG AMOUNT WOULD CREATE PROBLEM TO SON IN LAW
PLS BE CHECKED PROPERLY ON THAT PART
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Ranjeet Atal

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Ranjeet Atal (Querist)
26 December 2008 Can you please tell me the definition of the word "Big Amount"
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Ranjeet Atal

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Ranjeet Atal (Querist)
27 December 2008 Please clarify that the provision(Gift) for payment by cheque are same? In my opinion there should not be any problem if payment is made by cheque. please confirm.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
27 December 2008 Cash and Cheque for the purpose of Gift is one and the same thing.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
27 December 2008 Also, there is no concept of any 'BIG AMOUNT'

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