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Tax implications on gifts

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(Querist)
27 May 2016
Granddaughter can give the gift to his grandfather. Grandfather received gift is taxable or not.
Any Gift deed required.
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CA Mithil Munot

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CA Mithil Munot (Expert)
28 May 2016 Gifts are tax free if they are received from Lineal Ascendant or Descendant.
It is always advisable to have a gift deed for any future need.

CA MITHIL MUNOT
contact:- camithilmunot@gmail.com

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