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Gift tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 February 2013 Dear Sir,

I am Received Rs. 150000/- Gift from My Wife's Sister. This amount is Taxable?
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jaydip a. limbasiya

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jaydip a. limbasiya (Expert)
08 February 2013 It is exempted.Wife's sister fall in the definition of relative, hence it is exempted.

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