TaxTMI 
TaxTMI 
TaxTMI 
Gift to brother's spouse
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....ift to brother's spouse<br> Query (Issue) Started By: - NEERAJ BHUTORIA Dated:- 23-7-2011 Last Reply Date:- 25-7-2011 Income Tax<br>Got 3 Replies<br>Income Tax<br>i have given a gift of Rs 100000 to m....
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....e elder brothers wife. whether the same is taxable or not. kindly advise Reply By DINESH AGGARWAL: The Reply: Dear Mr. Neeraj, Brother's Wife is not a relative as per definition of Relative given u....
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....nder the Income Tax Act, 1961. Hence in my opinon, the whole amount will be treated income of receipient (Brother's Wife). Regards [email protected] Reply By Bakul Gandhi: The Reply: The gift i....
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....s not taxable in the hands of brother's wifeas she is a relative as defined in Sec 56(2)- 1....................................... 2- brother or sister of such indiividual 3.............................
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............4................................5...........................6...............................and 7 spouse of the individual referred in above 2 to 6. Thus brother's wife being spouse of person....
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.... under item 2 is covered under item 6 Reply By Sunil K. Jain: The Reply: Dear Neeraj As per section 56(v)(a) of the income tax act, and vide expalanation (ii) and (vii) there of ; brother's wife is....
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.... covered under the definition of "relative". The same is therefore not taxable.<br> Discussion Forum - Knowledge Sharing ....