Tax liability in case of father receives gift from his son or relative

This query is : Resolved 

11 December 2024 If the father receives money from his son and close relatives as gift ,what tax liability arise either party

11 December 2024 Gift received from 'Relatives' as defined u/s. 56(2) IT act. e.g. Son, daughter etc. are exempt under income tax act.
for list of relatives...
Refer: https://www.caclubindia.com/forum/list-of-relatives-under-section-56-2--540887.asp



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