Gift from mom
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2016
mom got prepared from her SB account a DD for Rs.8 lakh in the name of housing board and gave it to her son, as gift from mom, to apply for flat in his name.please advise any further action required.
regards
regards
07 July 2016
Gift to relatives are not taxable in the hands of donee. gift deed is advisable though not compulsory.
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