Gift taxability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 March 2018 Is the gift received by father / mother from mariied daughter taxable ?
Also gift received by brother of married sister taxable?

RAJA P M (Expert)
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31 March 2018 No... The both of under the definition of Relatives. No more tax liability. It's fully exempted...

K Srinivas, CMA CS (Expert)
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31 March 2018 Yes, gift from relatives is exempt

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