GIFT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 December 2010
IF MOTHER GIFTS RS 10000/- TO MAJOR DAUGHTER THEN WIL CLUBBING PROVISION BE APPLICABLE?
GIFT DEED REQD?
SINCE AMT IS NOT HUGE WHETHER POSSIBLE TO EXECUTE GIFT DEED ON PLAIN PAPER [I.E. WITHOUT STAMP PAPER B/C I READ SOMEWHERE THT NO STAMP PAPER IS REQD FOR EXEXUTION OF GIFT DEED]?
GIFT DEED REQD?
SINCE AMT IS NOT HUGE WHETHER POSSIBLE TO EXECUTE GIFT DEED ON PLAIN PAPER [I.E. WITHOUT STAMP PAPER B/C I READ SOMEWHERE THT NO STAMP PAPER IS REQD FOR EXEXUTION OF GIFT DEED]?
04 December 2010
Personal gift to the extent of Rs. 50000/- is not a income, so it is not taxable. No document is required to gift Rs. 10000/- to daughter.
04 December 2010
i little disagree with BHAGATJI.
Any amount of gift from relative is not taxable.
So here , gift received from mother is not taxable.
Any amount of gift from relative is not taxable.
So here , gift received from mother is not taxable.
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