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Relative for gift under income tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 April 2010 Whether mother's parent ( Nana / Nani )can gift to individual above 50000 Rs without attracting income tax
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
05 April 2010 Yes they can.
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 April 2010 Lineal ascedant is in direct line....can this include mothers parent ?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
05 April 2010 I THINK YES. LET OTHER EXPERTS GIVE THEIR VIEW?
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
05 April 2010 YES,
include mothers parent also.
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SHIKHA AGRAWAL

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SHIKHA AGRAWAL (Expert)
05 April 2010 Yes
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
05 April 2010 yes nana-nani is also includs in the definition of Relatives.

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