Step-Siblings Included in ‘Relative’ Definition, Gift Received Not Taxable u/s 56(2) of Income Tax: ITAT

The Income Tax Appellate Tribunal (ITAT) has ruled that step-siblings are included in the definition of "relative," making gifts received from them non-taxable under Section 56(2) of the Income Tax Act. This decision clarifies the scope of the relative definition for tax purposes. The ruling provides relief to taxpayers who receive gifts from step-siblings. This ruling clarifies income tax.