Is the Gift from Uncle/Aunt to Nephew's Wife taxable ?
Tax on gift from uncle/aunt to nephew's wife
Kaushik (Accounts) (123 Points)
24 June 2016
1 Replies
CA Harshal Totla
(Chartered Accountant)
(2229 Points)
Replied 25 June 2016
if you are asking from point of view of nephew's wife, uncle/aunt of spouse doesn't comes in definition of relative as per income tax act, so gifts will be taxable if total value of such gift exceeds Rs.50000 in previous year
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