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Example: 2) X gets a gift of 43,000 from C, who is cousin of his father and he also gets a gift of 20,000 from D, who is elder brother of his grandfather. |
Chapter No. 02 - Other Sources - Gifts received by Individual & HUF - [Sec. 56(2)(vii)] 63,000 is taxable since C & D are not relatives.
Dated: 19-8-2015
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