Relatives u/s 56(2)(vii) from whom Gift is permissible under Income Tax Act, 1961
(i) spouse of the individual; (ii) brother or sister of the individual; (iii) brother or sister of the spouse of the individual; (iv) brother or sister of either of the parents of the individual; (v) any lineal ascendant or descendant of the individual; (vi) any lineal ascendant or descendant of the spouse of the individual; (vii) spouse of the person referred to in clauses (ii) to (vi)
Read more at: https://www.caclubindia.com/forum/relatives-u-s-56-2-vii-from-whom-gift-is-permissible--98674.asp
27 July 2013
Gifts that are not taxable at all are those that are received from relatives. Relatives are defined by the following relationships of the individual:
Parents Parents siblings and their spouse Siblings Spouse of siblings Daughter and son Spouse of daughter and son Spouse Spouse’s parents Spouse‘s siblings and their respective spouse.
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