Income from other source

No anything received from relative doesn't attract 56(2)(,x)

Harshitha Kalidindi

CA Inter

★ 45K+

25-Mar-23 21:32

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

Divya Sri Vemavarapu

CA Final

★ 15K+

26-Mar-23 14:56

Gift received on ocassion of marriage is not taxable. It can be received from anyone.

CA Suraj Lakhotia

Admin

26-Mar-23 17:36

Gold gift from relatives are taxable???????

Thread Starter

Sandeep Choudhary

CA Inter

★ 7K+

27-Mar-23 13:08

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;

Sudha Reddy

CA Final

★ 20K+

29-Mar-23 08:59