Sister gift to Wife – Will there be Gift Tax ?

POSTED BY Malik Khan ON November 21, 2013 8:13 am COMMENTS (2)

Hello!

If my sister gifts my wife an amount via cheque,will this gift come under exemption ?

2 replies on this article “Sister gift to Wife – Will there be Gift Tax ?”

  1. Malik Khan says:
    November 21, 2013 at 10:34 am

    Thank You.

    Reply
  2. ashalanshu says:
    November 21, 2013 at 10:27 am

    Dear Malik, there ‘ll be no tax on your wife for the gifted amount. Post gift, any taxable income generated from the gifted amount ‘ll be your wife’s income and she needs to pay tax on the income.

    thanks

    Ashal

    Reply

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