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Gift to brother's spouse, Income Tax |
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Gift to brother's spouse |
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i have given a gift of Rs 100000 to me elder brothers wife. whether the same is taxable or not. kindly advise Posts / Replies Showing Replies 1 to 3 of 3 Records Page: 1
Dear Mr. Neeraj, Brother's Wife is not a relative 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.com
The gift is not taxable in the hands of brother's wifeas she is a relative as defined in Sec 56(2)-
1....................................... 2- brother or sister of such indiividual 3.................................4................................5...........................6...............................and 7 spouse of the individual referred in above 2 to 6. Thus brother's wife being spouse of person under item 2 is covered under item 6
Dear Neeraj As per section 56(v)(a) of the income tax 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. Page: 1 Old Query - New Comments are closed. |
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