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If relative of the assesee gift immovable property, it is taxable ??
Answers (5)
Divya Sri Vemavarapu
Gift received only on the occasion of marriage, received from relatives and family are not taxable and in the rest of the cases it is taxable
Gift received on ocassion of marriage is not taxable. It can be received from anyone.
Harshitha Kalidindi
No anything received from relative doesn't attract 56(2)(,x)
Gold gift from relatives are taxable???????
Thread Starter
Sandeep ChoudharyGold gift from relatives are taxable???????
No. "relative" means,— (i) in case of an individual— (A) spouse of the individual; (B) brother or sister of the individual; (C) brother or sister of the spouse of the individual; (D) brother or sister of either of the parents of the individual; (E) any lineal ascendant or descendant of the individual; (F) any lineal ascendant or descendant of the spouse of the individual; (G) spouse of the person referred to in items (B) to (F); and (ii) in case of a Hindu undivided family, any member thereof;