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Is gift from parents tax free? (Rs 3 lac cheque to daughter)


hrdpngadgil
4
If a father gifts Rs 3 lac cheque to his daughter in Maharashtra is it taxable or tax free to ether of them
From India, Pune
nathrao
3131
The gift referred to in the query is not taxable.
However income earned out of the gift is taxable in the hands of recipient i.e daughter.
This law is applicable all over India.
The donor of the gift(father) need not pay any tax on the gifted amount.
From India, Pune
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India, Pune
23 January 2018 02.08.08 PM
Views: 490 Replies: 1 Appreciations: 2



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