Gift Tax

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 July 2010 Dear All,

I have little confusion about the gift tax. Please clariffy with the following example.
1) I would like to gift a sum of Rs.1,50,000/- to my daughter on her birthday occasion(Assume anything otherthan Marriage) / without occasion can i do that? how much is taxable?

2) I want to gift a land about 2 Acres without monetary consideration to my daughter on her birthday occasion(Assume anything other than Marriage)/ without occasion can i do that? how much is taxable?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 July 2010 https://www.caclubindia.com/share_files/synopsis-of-taxability-of-gift-27904.asp

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