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querry for tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 May 2011 sir
i want to know only that if my mother gives a gift to my wife in cash or other things that is taxable or not

i hear that gift tax has been withdraw from income tax law it is correct or not, if it is correct from which year it is applicable
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
05 May 2011 GIFT RECEIVED FROM RELATIVE IS NOT TAXABLE.
MOTHER IN LAW FALLS UNDER RELATIVE . SO THE ABOVE GIFT WILL NOT BE TAXABLE.

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