Gifts to relatives, as defined under the Income Tax Act, 1961, are exempt from tax under Section 56(2)(x). Property inherited through a will is also not taxed ...

Earlier this month, the Supreme Court ruled that if a donor is making a gift “of his free will and volition and is the exclusive owner of the property, it is nobody’s concern” as to whom he gives the ...

A Will is a valid legal document that outlines the distribution of the assets of an individual to various recipients in granular detail. How do you pass on your assets to the next generation? There ...