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Taxation of gift

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(Querist)
19 September 2009 I want to know that whether cash Rs. 300000/- Without consideration received from son in law is taxable in the hands of individual.
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C.A.Harish Singh

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C.A.Harish Singh (Expert)
19 September 2009 Exempted. u/s 56(2) any sum received from relative as gift is exempted from tax and
son in law comes under the difination of relative.

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