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SM Srivastava (Retired)     28 June 2013

Gift to son-in law

 

 

Can an individual  take from  or give Gift to his son-in-law ? Does the son-in-law come to be a relative u/s 56(2) VII of Income Tax Act ?



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 4 Replies

Adv Archana Deshmukh (Practicing Advocate)     28 June 2013

Son-in-law is a relative u/s 56(2) VII of Income Tax Act.

VISHNU PROMOD SRIVASTAVA (ADVOCATE)     29 June 2013

Yes, an individual can receive/ give gift from/ to his son in law under the provisions of section 56(2) vi of I T Act, 1961

Arpit lalan (Legal Consultancy/Advocate)     02 July 2013

Individual can receive/give gift to/from Son in law as per income tax act. Provision under Sec.56(2) of the said act. Defination of Relative includes SON-IN-LAW.

prakharved (Medical officer)     04 July 2013

@sm srivastava

 

Yes, gift can be given to our son in law by means of a gift deed. If it is a property, it should be registered in your name, also, it should have been in your possession for the past 30 years to execute a gift deed.

 

Answer to the second question is yes.

Regards


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