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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 my brothers son gift to my son
if a wife transfers 400000 rs to his husband account which is her husband salary account so in that case income tax can as for enquiry
I want to gift to bua age 64 and my age 35 can i gift a postoffice cheque MIS maturity wroth 3.54 lakh and i am in nil braket
Whether transfer of securities / properties from members of HUF to HUF is covered u/s 56(2)(vii). Please suggest
SIR,
CAN MY WIFE MAKE GIFT DEED OF PROPERTY TO MY BROTHER WIFE
GIFT TO MY WIFE’S BROTHER’S DAUGHTER IS EXEMPT OR TAXABLE
Whether gift to mama’s Son’s exempted under the provision of gift tax
gift from father to son under section 56(2) in itr2 by cheque of rs 6,00,000 where to show in income tax portal pointwise. in exempt income(EI) there is no such column then it will be shown in column others.stating section 56(2) or it will be shown in other place. please clarify
To sister’s married daughter ??
Whether daughter, s daughter is a relative under section 56 of Income Tax Act
Can my mother & brother transfer share from their joint account as a gift to my wife’s demat account , is there any limitations on value of share amount & plz also tell me this gift is out of income tax or under income tax.
Whether gift received from maternal uncle is exempt from tax.
Please advise.
Whether Father in law’s brother is relative?
If a person can gift to daughter in law of his bror? Is it exempt from gift tax? What is maximum amount he can gift to his brors daughter in law?
Please clarify the gift of 25lcs received from son in law fron his nre account exempted or not
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?
Please give reply
can i recive gift of 25 lacs from my brother sons
wheather it will be treated as non taxablle or taxable
GIFT GIVEN TO BROTHER’S SON IS EXEMPTED OR TAXABLE
If get 20 laksa gift from my brothers sons
Is Taxable
Dear Sir/Madame
If I gift property to my Sister’s Son who is part of her family (HUF) is it tax exempt ?
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 i accept gift from my cousin brother( real mama ka ladka) , Mama is no more ,
gift by niece to her bua(father’s sister) is taxable
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 RECEIVED MONEY FROM HUSBAND OF MY WIFE’S SISTER, MEANS HUSBAND OF MY SALI (SISTER-IN-LAW) , THEN GIFT IS TAXABLE OR NOT
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
Hi, Can my husband’s brother’s wife gift an immovable property to me? Thanks!
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
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.
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.
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