Gift from brother on birthday taxable & max limit?

wilson desai (Querist) 13 July 2012 This query is : Resolved
gift received from real brother(via cheque) on birthday is taxable ? & whats the max limit In a financial year?

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A V Vishal (Expert) 13 July 2012
Not taxable, no limit

wilson desai (Querist) 13 July 2012
someone told me 50000 is the max limit in a fin year

Nadeem Qureshi (Expert) 15 July 2012
agree with Mr. Vishal

prabhakar singh (Expert) 15 July 2012
"someone told me 50000 is the max limit in a fin year" applies to gift from strangers,those who are not classified as relatives.

Here the Gift is from a relation,real brother,hence not taxable as rightly told by Mr.Vishal.

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