TMI BlogGift to brother's spouseX X X X Extracts X X X X X X X X Extracts X X X X ..... i have given a gift of Rs 100000 to me elder brothers wife. whether the same is taxable or not. kindly advise - Reply By DINESH AGGARWAL - The Reply = Dear Mr. Neeraj, Brother's Wife is not a rela ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tive as per definition of Relative given under the Income Tax Act, 1961. Hence in my opinon, the whole amount will be treated income of receipient (Brother's Wife). Regards Manojkmodi@gmail ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .com - Reply By Bakul Gandhi - The Reply = The gift is not taxable in the hands of brother's wifeas she is a relative as defined in Sec 56(2)- 1....................................... 2- b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rother or sister of such indiividual 3.................................4................................5...........................6...............................and 7 spouse of the individual ref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erred in above 2 to 6. Thus brother's wife being spouse of person under item 2 is covered under item 6 - Reply By Sunil K. Jain - The Reply = Dear Neeraj As per section 56(v)(a) of the income tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... act, and vide expalanation (ii) and (vii) there of ; brother's wife is covered under the definition of "relative". The same is therefore not taxable. - Gift to brother's spouse - Query Started By: - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... NEERAJ BHUTORIA Dated:- 23-7-2011 Income Tax - Got 3 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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