Gift
This query is : Open
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)
23 May 2017
a) no taxable as received by daughters from father which is covered under relative
b) Make gift deed
23 May 2017
Agree with CA Mohit Kumar
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