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24 March 2009 1)Whether there is the taxability of the amount gifted in any occasion of family member?

24 March 2009 Money received from relative is not taxable.

Relative means:
1. spouse of individual
2. Brother & Sister of Individual
3. Brother & Sister of Spouse
4. Brother & Sister of either of parents of individual
5. Parents of individual
6. Any lineal ascendent or descendent of individual
7. Any lineal ascendent of dedcendent of spouse
8. Spouce of person referred in point 2 to 6

24 March 2009 i support the expert


24 March 2009 clarify your question, since gift above specified limit from person other then relative is taxable.



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