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Tax on property from grand father

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 September 2013 I would like to know if there is a income tax on the property received from my father in law to my daughter. She is also working at present.

Please explain the tax details if she receives a house, gold and if she receive cash.
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Sumit Grover

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Sumit Grover (Expert)
02 September 2013 that won't be taxable in the hands of your daughter....
Since, any gift(monetary/non-monetary) received from lineal ascendants/descendants is not taxable in the hands of the receiver
{Section 56(2)of Income Tax act,1961}
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CA.Vinita Gupta

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CA.Vinita Gupta (Expert)
02 September 2013 Agreed with the reply of Sumit. It would not be taxable as it falls under the definition of Relative
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