gift
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 December 2010
Sir my father 80 years old having own pan no.want to give some amount as GIFT to his
GRAND DAUGHTER (18 YEARS OLD AND HAVE PAN NO .ALSO).
Sir my question is---
CAN A GRAND FATHER GIFT MONEY TO HIS GRAND DAUGHTER ?, IF YES, WILL HE HAVE TO GIVE ANY AFFIDIABET SHOWING THIS GIFT.?
HE IS GIVING GIFT BY CHEQUE.
THANKING YOU
VINOD
GRAND DAUGHTER (18 YEARS OLD AND HAVE PAN NO .ALSO).
Sir my question is---
CAN A GRAND FATHER GIFT MONEY TO HIS GRAND DAUGHTER ?, IF YES, WILL HE HAVE TO GIVE ANY AFFIDIABET SHOWING THIS GIFT.?
HE IS GIVING GIFT BY CHEQUE.
THANKING YOU
VINOD
CA Ayush Agarwal
(Expert)
18 December 2010
Yes He Can Give Gift to Her Daughter.
Exempt U/s 56.
and a Gift Deed Must Be Prepared For Any Future Refernce
Exempt U/s 56.
and a Gift Deed Must Be Prepared For Any Future Refernce
CA Sanat Pyne
(Expert)
18 December 2010
yes. he can . and this gift will not be taxable.
it is better to make a giftdeed for incometax purpose.
it is better to make a giftdeed for incometax purpose.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- Oct 2025 Invoices
- Import of Software Service.
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Under marginal scheme
- Capitalgain tax purposes for valuation report compulsory
- GST on Renting godown to KFCSC for Storage of Raagi
- GST Audit whether Govt Companies are exempt?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
