Pratap (Business) 25 March 2012

Gift to mother in law &father in law

Can a tax paying individual give monetary gift by Cheque to his mother in law & father in law

G. ARAVINTHAN (Legal Consultant / Solicitor) 25 March 2012

monetary gift.. to maintain themselves?

Vijay Goyal (Tax Consultant) 29 March 2012

INDIVIDUAL TAX PAYERS CAN GIVE MONETARY GIFT TO HIS/HER MOTHER IN LAW OR FATHER IN LAW AND ARE TAXFREE IN PART OF RECEIVER UNER INCOME TAX ACT.

Vineet (Director) 13 April 2012

Yes. No tax liability in the hands of donor and donee.

Sourav Chatterjee (Professional) 13 April 2012

Any individual (whether tax paying or not) can give monetary gift.

R RAJAGOPALAN (ADVOCATE) 18 August 2012

The replyis : Yes, the gifts can be made. There will not be any tax liability for the donor.