Gift
This query is : Open
rajshwar dayal
(Querist)
23 May 2017
My father-in-law wants to gift to each of his three daughters Rs.4 lacks through a/c payee Cheques drawn from his Pension a/c.(a)Are the amounts so gifted taxable in the hands of daughters.(b) What formalities are required to execute the transactions
R.Dayal(23/5)
R.Dayal(23/5)
CA Mohit Kumar
(Expert)
23 May 2017
a) no taxable as received by daughters from father which is covered under relative
b) Make gift deed
CA Rashmi Gandhi
(Expert)
23 May 2017
Agree with CA Mohit Kumar
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