Meaning of Relative : List of 44 Relatives Who Can Give Tax Free Gifts to You !

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Meaning of Relative : List of 44 Relatives Who Can Give Tax Free Gifts to You !Meaning of relative is very important to examine whether the gift receipt in hand of an individual is taxable or tax free. Section 56(2)of the Income Tax Act  provides that if any gift , whether in cash or in kind in excess of Rs 50,000 is received by an individual and HUF from any…

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