INCOME TAX - OTHER SOURCES

[GANAPATHY PADMANABHA SARMA]

WHAT IS THE MEANING OF LINEAL ASCENDANT AND LINEAL DESCENDANT  REFERRED IN SECTION 56(2) OF THE I.T.ACT  IN THE TERM RELATIVE?

[Surender Gupta]

Lineal ascendant include father, mother, grandfather and grandmother, great grandfather and great grandmother and so on.

Similarly, the lineal descendant children, grand children, great grand children and their children as well.

No limitation as to the degree of relationship is prescribed so that a lineal ascendant or descendant of not only first and second degree but also third and fourth degree and so on will also qualify as a relative

AI Summary

Clarification on 'Lineal Ascendant' and 'Lineal Descendant' in Section 56(2) of Income Tax Act: No Degree Restriction on Relatives A query was raised regarding the definition of 'lineal ascendant' and 'lineal descendant' in the context of Section 56(2) of the Income Tax Act, specifically concerning the term 'relative.' The response clarified that lineal ascendants include parents, grandparents, and great-grandparents, while lineal descendants encompass children, grandchildren, and great-grandchildren. There is no restriction on the degree of the relationship, meaning relatives of any degree, such as third or fourth, qualify under this definition.