Gift by cheque to a married daughter
Querist : Anonymous
MY AGE OF MY CLIENT IS 78 YEARS.
HE IS RESIDING WITH HER MARRIED DAUGHTER AS HE IS NOT HAVING ANY OTHER FAMILY MEMBERS.
AND HER MARRIED DAUGHTER IS THE ONLY ONE FAMILY MEMBER.
HE RECEIVED THE RETIREMENT AMOUNT AND WITH OTHER SAVINGS, HE GIFTED THE SUM OF RS 14,00,000 TO HER DAUGHTER BY CHEQUE.
DOES THIS GIFT AMOUNT WILL BE TAXABLE IN THE HAND OF DAUGHTER ?????
Querist : Anonymous
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