Gift to bua.
This query is : Resolved
19 December 2014
Dear Shruri gift given to relatives are not under the preview of income tax under section 56(2)(vii)
As you mentioned that amount given to Aunty, being Sister of your father is cover under that definition of relative.
Therefore, you don't need to be worry. Transfer the money as you wish
As you mentioned that amount given to Aunty, being Sister of your father is cover under that definition of relative.
Therefore, you don't need to be worry. Transfer the money as you wish
20 December 2014
this is the exempt due to gift give to relative. and not taxable in hand of receiver.
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