Can a tax paying individual give monetary gift by Cheque to his mother in law & father in law
Vijay Goyal (Tax Consultant) 29 March 2012
INDIVIDUAL TAX PAYERS CAN GIVE MONETARY GIFT TO HIS/HER MOTHER IN LAW OR FATHER IN LAW AND ARE TAXFREE IN PART OF RECEIVER UNER INCOME TAX ACT.
Sourav Chatterjee (Professional) 13 April 2012
Any individual (whether tax paying or not) can give monetary gift.
R RAJAGOPALAN (ADVOCATE) 18 August 2012
The replyis : Yes, the gifts can be made. There will not be any tax liability for the donor.