Gift received from son-in-law (wife brother)

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VARUN KUMAR JAIN (Querist)
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13 February 2015 sir,
My question is if gift inform of cash received from son-in-law (wife brother) is exempt from Income tax or not

CS,CA F,Numrologi TusharSampat (Expert)
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13 February 2015 wife brother is not son in law but brother in law and yes its covered by definition of relative and is not taxable u/s 56(2)

Rupesh Jain (Expert)
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13 February 2015 YES IT COVER UNDER RELATION AND EXEMPT.
BUT IT BETTER TO TAKE GIFT THROUGH BANKING MEDIA.

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