jhetani gifted
property to devrani is taxable or tax free
Tax free as from relative ...u/s. 56(2) of Income Tax act.
8 Replies
Bala Sanjeev
(13 Points)
Replied 10 July 2019
there is no tax on gift according to sales of goods act
V. NAVEEN KUMAR SICASA
(192 Points)
Replied 10 July 2019
Spouse of the individual
Brother or sister of the individual
Brother or sister of the spouse of the individual
Brother or sister of either of the parents of the individual
Any lineal ascendant or descendant of the individual
Any lineal ascendant or descendant of the spouse of the individual
Spouse of the person referred to in clauses (ii) to (vi).
.
In the above it is not covered. So it is taxable
Brother or sister of the individual
Brother or sister of the spouse of the individual
Brother or sister of either of the parents of the individual
Any lineal ascendant or descendant of the individual
Any lineal ascendant or descendant of the spouse of the individual
Spouse of the person referred to in clauses (ii) to (vi).
.
In the above it is not covered. So it is taxable
rishi
(student)
(408 Points)
Replied 10 July 2019
yes, it should be taxable as they are not relative as per the definition
Harshit Baheti
(344 Points)
Replied 11 July 2019
100% it is non taxable
Read definition of relatives carefully again
Read definition of relatives carefully again
Nishant shah
(AUDIT ASSISTANT)
(302 Points)
Replied 13 July 2019
it's taxable since derani jethani do not fall under relative at all..
Read definition of relative carefully
Read definition of relative carefully
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