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


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
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nathrao
3180
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.
From India, Pune
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Human Resource Management (HRM) Community Journal & KnowledgeBase (Entry: 595123)

India, Pune
23 January 2018 07.38.08 PM
Views: 598 Replies: 1 Appreciations: 2

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