Gift from Father to Daughter in Maharashtra: Is the Rs 3 Lakh Cheque Taxable?

If a father gifts Rs 3 lakh cheque to his daughter in Maharashtra, is it taxable or tax-free to either of them?

In the scenario described, the taxation implications of the gift of Rs 3 lakh from a father to his daughter in Maharashtra need to be considered.

The gift referred to in the query is not taxable. However, income earned out of the gift is taxable in the hands of the 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.