Applicability of Tax on GIFT
This query is : Resolved
22 October 2022
Dear Sir / Madam
Can I give Rs.600000/- to my Bhanji (aged 19 years- Real Sister's daughter) by Cheque.
Will any tax applicable to any one ( me or bhanji). If she put this money in FD then will clubbing provision applicable ?
Pl reply thanks in advance.
Can I give Rs.600000/- to my Bhanji (aged 19 years- Real Sister's daughter) by Cheque.
Will any tax applicable to any one ( me or bhanji). If she put this money in FD then will clubbing provision applicable ?
Pl reply thanks in advance.
22 October 2022
1. No tax liability on any one as Mamu is relative to Bhanji as per IT act.
2. No clubbing provision in this case.
2. No clubbing provision in this case.
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