GIFT TAX ON GIFT TO DAUGHTER
This query is : Resolved
16 August 2022
I want to Gift approx Rs 10 lacs to my daughter. would like to know if any TAX applicable to her on receipt of money. She is a student and does not have any income.
also , do I need to prepare any document of Gift.
Kindly advise.
also , do I need to prepare any document of Gift.
Kindly advise.
16 August 2022
1. No gift tax when gift received from father/relative.
2. Pay by banking channel, no need of any gift deed.
2. Pay by banking channel, no need of any gift deed.
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