If I receive cash as gift from my wife, is it taxable under the Law? Subramaniam B, 10 Sep 2012

If I receive cash as gift from my wife, is it taxable under the Law?

Fintotal Answer

As per the Gift Tax Act if you get a gift from your spouse, siblings, and other blood relatives , it is exempt from tax, irrespective of the amount. However, if the amount received as gifts is not in line with the financial capacity of the person making the gift, the case could come up for scrutiny.

No Comment Posted



All Tax Queries

Get the all financial products under one roof only at

you will NEVER GO WRONG with us!

Unbiased . Best Deals . Appropriate Products . No Mis-selling