Gift in cash to mother from daughter
This query is : Resolved
11 November 2015
I had gifted Rs. 400000 to my mother in CASH .
I am a married lady. Is it valid under Indian Income tax act
I am a married lady. Is it valid under Indian Income tax act
11 November 2015
Yes. Its valid. No tax implication. Just get a gift deed executed for record.
11 November 2015
Income Tax Not applicable gifts from Relatives
11 November 2015
it is very much valid. In stead of making GIFT DEED (which is a subject matter of stamp duty), you can make a letter of GIFT.
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