gift

Kamlesh (Querist) 04 August 2014 This query is : Resolved
Can father in law gift give money as gift to his son in law, Further what is meaning of linealy ascedent and decendent in sec 56 of income tax act, 1962

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Devajyoti Barman (Expert) 04 August 2014
One can gift a property to anyone he choose as afar as his self acquired property is concerned.

Rest is academic query.

ajay sethi (Expert) 05 August 2014
yes father in law can give money as gift to son in law

Rajendra K Goyal (Expert) 05 August 2014
Academic query.

Guest (Expert) 05 August 2014
Are you father-in-law proposing to gift money to your son-in-law or expecting money as gift from your father-in-law?

Second part of your question has no relevance, as you are the auditor, yourself, and are supposed to know the definition about taxation.

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