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Gift tax

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(Querist)
27 January 2013 Sir

can i gift to my wife son daughter and daughter-in-law if so than upto what amount is not taxable to be
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HUZAIFA HUSSAIN

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HUZAIFA HUSSAIN (Expert)
27 January 2013 Any amount of gifts to the relatives, as defined in income tax act, are not taxable.

However, if any income arises on such gifts to the relatives than such income is clubbed with your income for tax purpose.
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Yogesh Karmavat

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Yogesh Karmavat (Querist)
28 January 2013 thank you very much
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