TaxTMI 
TaxTMI 
TaxTMI 
i have given a gift of Rs 100000 to me elder brothers wife. whether the same is taxable or not. kindly advise
Gift to brother's spouse
NEERAJ BHUTORIA
Gift of Rs 100,000 to brother's wife exempt from tax under Section 56(2) of Income Tax Act. A participant inquired whether a gift of Rs 100,000 given to their elder brother's wife is taxable. One respondent stated that the brother's wife is not considered a relative under the Income Tax Act, 1961, thus making the amount taxable for the recipient. However, two other respondents clarified that under Section 56(2) of the Income Tax Act, the brother's wife is indeed classified as a relative, which exempts the gift from being taxable. (AI Summary)