How much cash gift through bank transfer is exempted from tax from Father in Law to Daughter in law in a Financial year.
5 Replies
Kapadia Pravin
(17259 Points)
Replied 21 January 2021
Upto aggregate 50000/- for the year from non-relatives. Daughter in law does not fall in relative defination to Father in law.
Krishna Chaudhary
(Accountant)
(4531 Points)
Replied 23 January 2021
Up to rupees 50000 can be received from any person but in case of relative you receive you can receive any amount
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 23 January 2021
Any gift from relative is completely exempt.
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