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Are immovable property received as gift from friends liable to tax?

<span style="color: rgb(0, 0, 0); font-family: Arial; font-size: 13px; line-height: normal; white-space: pre-wrap;">Are immovable property received as gift from friends liable to tax?</span><br>


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Team Legistify

Gifts received from relatives are not charged to tax. Relative for this purpose means:

(a) Spouse of the individual;

(b) Brother or sister of the individual;

(c) Brother or sister of the spouse of the individual;

(d) Brother or sister of either of the parents of the individual;

(e) Any lineal ascendant or descendent of the individual;

(f) Any lineal ascendant or descendent of the spouse of the individual;

(g) Spouse of the persons referred to in (b) to (f). Friend is not a relative as defined in the above list and hence, gift received from friends will be charged to tax (if other criteria of taxing gift are satisfied).​

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