News & Media 19th Sep 2025
Our Partner Dipesh Jain shares his thoughts in the recent ET Wealth’s article “Grandmother gave him INR 10 lakh and created gift deed but income tax dept issued him notice; grandson partly wins case in ITAT Pune due to this reason”.
He explains how, under the Income-tax Act, 1961, the definition of “relative” includes grandparents, and therefore, gifts from them should not attract gift tax.
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