Under Gift Tax Laws, can a Daughter-in-law OR Son-in-law give gifts by way of amounts in the form of NSC/Sr. Citizen Scheme/Bank FDs to their respective Mother / Father In Laws? If yes, is it taxable at the hands of the respective In Laws/Parents or Not – under Gift tax laws. Also what is the tax implication of interest coming from such govt securities or bank fixed deposits. Please advised… Thanks Shobha2 replies 0 helpful answers Last Updated: 7 months ago
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