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Gift

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09 February 2014 if I gift my minor daughter a sum of rs 250000 in cash or in cheque it taxable. and she need to be hold a pan card & bank account. and if the same think I will do for my wife. plz guide me
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
09 February 2014 Gift given to wife or daughter is not taxable. Do give the amount by cheque and do make a gift deed for records.
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