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Gift

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(Querist)
15 August 2015 Is gift in money received by a women from her father is a taxable? If such amount get deposited in bank fd by a women then it's interest will taxable or not
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
16 August 2015 Gift money received from father is not taxable. Interest earned on deposit of the gift amount is taxable.
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CA ALOK KUMAR

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CA ALOK KUMAR (Expert)
16 August 2015 Gift received from relative (which includes father), shall not be taxable in the hands of woman. However interest earned on FD, shall be taxable under the head "Income from other sources".
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