| Question And Answer | |
|---|---|
| Subject: | Whether transfer of amount to sisters , which the assessee inherited from father is liable to tax .? |
| Category: | Income-Tax |
| Querist: | Diwakar |
| Answered by: | Advocate Rahul Hakani |
| Tags: | Gift to sisters, inherited from father |
| Date: | May 11, 2021 |
I just want to know, if am settling my sisters with an X amount for the property that I inherit from my father. Will that X amount is taxable or not?
Gift received by sister from brother is not taxable u/s 56(2)(x)
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