Gift from sister of grandfather

Vikash Shah (Querist) 03 September 2015 This query is : Resolved
What should be treatment of gift received from Grandfather Sister.

Is it taxable or non taxable.

Follow Query

Report Abuse

rajagopal.s (Expert) 04 September 2015
Hi
It will be taxable.

Rajendra K Goyal (Expert) 04 September 2015
Gifts are tax exempt irrespective of amount received as Gift from a close or blood relative which include any of the following:
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 individuals
f. Any lineal ascendant or descendant of spouse of the individuals
g Spouse of the Brother / sister of individual or brother/ sister of spouse of individual

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now