can u tell me whether mother's sister(mausi) is covered under the definition of relative under section 56(2),whether mausi can gift to his sister son i.e. bhaanja,is it exempt under section 56 thanks in advance
Menu
Meaning of relative
Replies (3)
Yes, Mother's sister is included in definition of relative and therefore gift received from her is not taxable
Mahesh garg is right... Mother's sister fall in defination of relative under IT Act
yes, mother's sister is a relative under the Act
Recent Threads
- TDS u/s 194J - training honorarium
- WHERE TO REGISTER UNDER PTRC AND PTEC ACTS ?
- Key Corporate Compliance Requirements for Private
- Gst Non Filling Return Notice
- GSTR 2B ( MULTIPLE MONTHS )
- Eway bill generation for export material.
- International Tax clarification UK.
- E way bill expired penalty
- Best SME Focused AIF Funds in India for High Growt
- How does employee management software help in stat
Related Threads
CAclubindia
