can daughter in law gift money to her
mother-in-law . Is it exempt in the hands of mother-in-law.
Gift to mother-in-law
Mukul Khanna (52 Points)
08 July 2018
16 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 08 July 2018
I think no...
As per definition of relatives not covered for above said relationship...
As per definition of relatives not covered for above said relationship...
Roller coaster
(120 Points)
Replied 08 July 2018
mother of ur spouse falls under relative definition
JAI BHOLA
(504 Points)
Replied 08 July 2018
it's exempt..... cause of we see from the perspective of mother in-law , daughter in law is spouse of her lineal ascendent ... there for gift is received by the relative hence not taxable
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 08 July 2018
Above said Mother in Law and Daughter in law not under the definition of Relatives...
Any one have detailed definition then can explain here...
Any one have detailed definition then can explain here...
JAI BHOLA
(504 Points)
Replied 08 July 2018
RAJA P M sir the definition of relative under section 56(2) includes lineal ascendent and their spouses ... therefore for mother in law her son's wife would be a relative ... hence gift would not be taxable .
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 08 July 2018
No Dear.,
1 Relatives means
– Spouse of Individual
– Brother & Sister of Individual
– Brother & Sister of Spouse of Individual
– Brother & Sister of either of the parents of Individual
– Any Lineal ascendants or descendants of the individual
-Any Lineal ascendants or descendants of the spouse of the individual.
***Check out the details here no more meaning for "MOTHER IN LAW / DAUGHTER IN LAW"
1 Relatives means
– Spouse of Individual
– Brother & Sister of Individual
– Brother & Sister of Spouse of Individual
– Brother & Sister of either of the parents of Individual
– Any Lineal ascendants or descendants of the individual
-Any Lineal ascendants or descendants of the spouse of the individual.
***Check out the details here no more meaning for "MOTHER IN LAW / DAUGHTER IN LAW"
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(179906 Points)
Replied 08 July 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(179906 Points)
Replied 08 July 2018
For the purposes of this clause, "relative" means—
(i) spouse of the individual;
(ii) brother or sister of the individual;
(iii) brother or sister of the spouse of the individual;
(iv) brother or sister of either of the parents of the individual;
(v) any lineal ascendant or descendant of the individual;
(vi) any lineal ascendant or descendant of the spouse of the individual;
(vii) spouse of the person referred to in clauses (ii) to (vi);
Vinod Babu
(24191 Points)
Replied 08 July 2018
Please provide direct answer to understand and clarify the query.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(179906 Points)
Replied 08 July 2018
Combine reading of (v) & (vii)....
(v) any lineal ascendant or descendant of the individual; means her son or daughter.
(vii) spouse of the person referred to in clauses [(ii) to (vi)] here (v)......... means .... son's wife (DIL) or Bahu and secondly Daughter's husband (Jawai)
S ELAVARASI
(ACCOUNTANT)
(2975 Points)
Replied 08 July 2018
Dear Sir.,
The following one is allowable or not...?
(can daughter in law gift money to her mother-in-law . Is it exempt in the hands of mother-in-law)
(In tamil Marumagal to Maamiyaar)
Also now my CA is said it's taxable ....! So, I'm very doubyful...
JAI BHOLA
(504 Points)
Replied 08 July 2018
For the purposes of this clause, "relative" means—
[i] spouse of the individual;
[ii] brother or sister of the individual;
[iii] brother or sister of the spouse of the individual;
[iv] brother or sister of either of the parents of the individual;
[v] any lineal ascendant or descendant of the individual;
[vi] any lineal ascendant or descendant of the spouse of the individual;
[vii] spouse of the person referred to in clauses [ii] to [vi];
see the vii , spouse of lineal ascendent will be a relative therefore for mother in law , her daughter in law is relative.
[i] spouse of the individual;
[ii] brother or sister of the individual;
[iii] brother or sister of the spouse of the individual;
[iv] brother or sister of either of the parents of the individual;
[v] any lineal ascendant or descendant of the individual;
[vi] any lineal ascendant or descendant of the spouse of the individual;
[vii] spouse of the person referred to in clauses [ii] to [vi];
see the vii , spouse of lineal ascendent will be a relative therefore for mother in law , her daughter in law is relative.
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