Lineal ascendant of spouse - Gift category

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As per income tax rule in Lineal ascendant of spouse category only parental side is consider or maternal side is also consider.

AI Summary

Clarification sought on whether 'lineal ascendant of spouse' in Income Tax Act, 1961, section 56(2)(vii) includes both maternal and paternal sides. A discussion on a forum addresses whether the term 'lineal ascendant of spouse' under the Income Tax Act, 1961, section 56(2)(vii), includes both maternal and paternal sides or only the paternal side. The initial query seeks clarification on this point. A respondent suggests that, based on the language of the Act, both maternal and paternal sides may be considered as lineal ascendants.