Gift Deed Tax
This query is : Resolved
11 May 2021
In Pune Maharashtra, can a Grand Daughter 24 years old GIFT DEED more than Rs 50000 (say around Rs 40L) from sale of Apartment she owned to her Grand Mother (Father's mother, age 72) ? Is entire amount tax free for Grand Mother ?
11 May 2021
Yes, it's tax free. Gift to relative exempt from tax.
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