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Gift received from relstive

ANIL KUMAR KHETAN (PROPRIETOR) (523 Points)

29 March 2021

Son of my Mother's sister is relative for purpose of gift or not and gift amount received from that person is exempted or not , please clarify the legal position .

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6 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 29 March 2021

Yes it exempted as it will be treated as relative

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ANIL KUMAR KHETAN (PROPRIETOR) (523 Points)
Replied 30 March 2021

Gift by mother's sister son , I think he is not include relative for purpose of gift received , right or wrong , please advice me

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Shreya Bafna (200 Points)
Replied 31 March 2021

A perusal of the term ‘relative’ used in the section clearly shows that mother’s sister’s son does not fall within the definition of relative. Therefore, the amount received by the assessee from mother’s sister’s son does not qualify for the benefit. Hence taxable

CMA Poornima Madhava (CMA) (13112 Points)
Replied 31 March 2021

1) Son of mother's sister is not included in the definition of relative and hence taxable. But mother's sister is a relative. 2) However, gifts received on occasion of marriage of an individual, from anybody is not taxable.