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- 21 Jan 2020
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Kanak Gajjar
This article provides list of relatives covered Section 56(2)(VII) of the Income Tax Act,1961. As per Section 56(2)(VII) if any gift received from relative which are covered under following list will be exempt in the hands of receiver.
However the definition of the term ‘Relative’ which is given in the 1st explanation to the proviso to section 56(2)(VII) is very wide in its own.
Hence the following list and chart is a simplification of that definition for the ready reference of readers.
Exhaustive List of Relative under Section 56(2)
| Sr no. | Relative | Covered under |
| 1. | Husband/wife | Clause(i) |
| 2. | Brother and his wife | Clause(ii)with(vii) |
| 3. | Sister and her husband | Clause(ii)with(vii) |
| 4. | Wife’s bro. and his wife | Clause(iii)with(vii) |
| 5. | Wife’s sister and her husband | Clause(iii)with(vii) |
| 6. | Kaka – Kaki | Clause(iv)with(vii) |
| 7. | Fua – Foi | Clause(iv)with(vii) |
| 8. | Mama – Mami | Clause(iv)with(vii) |
| 9. | Masa – Masi | Clause(iv)with(vii) |
| 10. | Father – Mother | Clause(v)with(vii) |
| 11. | Grandfather – Grandmother | Clause(v)with(vii) |
| 12. | Son and his wife | Clause(v)with(vii) |
| 13. | Daughter and her Husband | Clause(v)with(vii) |
| 14. | Father in Law and Mother in Law | Clause(vi)with(vii) |
| 15. | Grand Father in Law (GFIL) and Grand Mother in Law (GMIL) | Clause(vi)with(vii) |
Chart Showing List of Relatives covered under section 56(2)
(Republished with Amendments)
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can a person transfer immovable property to his brother’s granddaughter and get exemption of capital gains?
If not possible, is there any other route like HUF to transfer and get tax exemption?
can i recive gift of 25 lacs from my brother sons
wheather it will be treated as non taxablle or taxable
Dear Sir/Madame
If I gift property to my Sister’s Son who is part of her family (HUF) is it tax exempt ?
Hi
If you gift the same in your personal capacity then it would be taxable as the same is not covered in the definition of the relative. However the said at can be made tax free by proper planning through the HUG route. For that please drop a mail at [email protected] or contact at 7986255468.
Thanks and regards
Anurag Gupta
Tax consultant (Ex Big)
can my son give gift to my sister (fui) ?? or sister’s son.?? plz reply on my mail id. thanks
My Nani wants give me Rs Ten lac as a gift is it tax free in my income tax return,?
Can I received gift from my tai through cheque of rs. 100000
Hello Sir,
My mother just got retired and want to gift me 10 lakh as cash through her white money into my saving account which I will withdraw from my bank account. Will she or I be liable for any tax ? I am not going to use money to earn or invest.
Also can my mother gift 5 lakh to my spouse (her daughter in law) and any of them will be liable for tax ?
Can I give gift of Rs 3,00,000 to my sister’s daughter without Tax implications in the hands of Donee? ? Please reply me on my email Id.
Rgds,
Shaw
Can brother’s wife ( sister-in-law)gift immovable property to her husband’s sister?
Hi.
The same would be taxable in the hands of the donee. So please contact for proper tax planning at 7986255468 or [email protected].
can i accept gift from my cousin brother( real mama ka ladka) , Mama is no more ,
Whether gift to Grand son/ daughter, that is Son’s son or daughter or daughter’s son/ daughter is exempted under the provision of gift tax
Whether gift to Grand son/ daughter, that is Son’s son or daughter or daughter’s son/ daughter is exempted under the provision of gift tax
If I get Rs $5 Lakhs from my Ant ( Father’s sister). Is it taxable and what will be the stamp duty
If I get Rs 45 Lakhs from my Ant ( father’s sister). Is it taxable? What will be the stamp duty?
can I receive gift of 5lac from my tauji after my marriage
No Its Not taxable in your hand and for stamp Duty its matter of state stamp duty
IF I RECEIVED MONEY FROM HUSBAND OF MY WIFE’S SISTER, MEANS HUSBAND OF MY SALI (SISTER-IN-LAW) , THEN GIFT IS TAXABLE OR NOT
HI Manish, It’s not taxable, as it will fall under clause (iii) with (Vii).
I am a salaried tax payee. If I transfer stocks purchased during march 2020 and april 2020 via off market transactìon with reason gift what will be the tax implication for me and my mother
“relative”, in relation to an individual, means the husband, wife, brother or sister or any lineal ascendant or descendant of that individual
this is definition on income tax site, can you please tell me how lineal ascendant or descendant of wife are falling in meaning of relative
Can an NRI gift money his/her aunt or cousin?
Whether Cash gift 600000 received from relative as per gift deed is exempt
Yes, if the relative falls from the above list.
IMO no cash gift of more than 2 lakh will attract penalty by bank only
Hi, Can my husband’s brother’s wife gift an immovable property to me? Thanks!
The transfer of immovable property – which will generate income (Rent) will attach clubbing provision.
Request to add my email please
If gift immovable property to my sister’s daughter what is the stamp duty in telegana state
Can I give a tax free gift to my Father’s brother’s wife( chachi).
Please advise.
Sir, If Mother-in-Law receives income from Gift given from Sister-in-law whether the Income received by Mother in law will be treated as her income or clubbed underr Sister in law
Here sister-in-law will be either considered as her daughter-in-law or her daughter itself. So it will be tax-free for mother-in-law
Pls clarify whether a person can give gift to son of her mother’s brother. Will he be considered as ‘Relative’ under Section 56((2) of Income Tax Act.
Relatives does not include cousin.
Cousin is not included in definition of Relative.
can’t understand the whole concept please make a video of it and then post on this page so that we can easily get the whole matter
Please clarify if an individual can give gift to his daughter’s daughter.Ifso, whether income acruing after investing the gift money by the donee will be considered as her own income or that of the donor.
huf can give any ammount to his daughter as a gift.it is taxable or not.if not taxable any document require for give tax
How would HUF have a daughter, please elaborate
Hi Dinesh, there is no concept of Daughter in HUF. Daughter will be considered as a member of the HUF and any member of the HUF can give gift to any other member of the HUF and it will not attract any tax liability.