Cash gift
This query is : Resolved
17 January 2016
Being a Karta of HUF can I made Cash Gift of Rs, 1 Lac to my Granddaughter. If yes than please also let me know whether it is taxable or not.
Ankur Singhal
(Expert)
17 January 2016
Dear
if you are making gift in individual capacity then from your income then no taxability in hands of granddaughter.
But if you are making gift from HUF then it is void as a HUF can not gift to anyone.
if you are making gift in individual capacity then from your income then no taxability in hands of granddaughter.
But if you are making gift from HUF then it is void as a HUF can not gift to anyone.
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