U/s 2(41) relative to an individual means the husband , wife , brother or sister or any lineal ascendant or descendant of that individual...
there are 2 types of variants wrt to relationship ... vertical and horizontal ...vertically it covers father , mother , son , daughter etc... and horizontally it covers brother and sister but it doesnt extend beyond that...
under sec 2(41) daughter in law and sister in law are not recognised as relative ...
27 April 2014
Unfortunately, he is misplacing his reliannce on 2(41) instead of 56(2). With regards to gifts, the definition of relatives is covered under 56(2) wherein daughter-in-law is covered as a relative as "spouse of lineal descendant"
CAclubindia
