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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Credit rating model
- 115-BAC-for AOP-private discretionary trust
- Youtube income
- Insurance make against any item and later get insurance claim received
- IN PAGHDI SYSTERM . RENT RECPT CHANGE OF NAME AFTER FAMILY PARENTS TO SON
- GST APPEAL ITC
- TCS Return Without PAN
- TDS U/S 194S VDA
- Surcharge on discretionary AOP/TRUST for AY 25-26
- Requirement of Form 15CA CB - Rent payment
- REFUND OF TDS CLAIM
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- GST ON PERSONAL MOTORCAR SOLD
- Cash gift by grand mother to her grand daughter
- APPLICABILITY OF RCM ON MAN POWER SUPPLY BY UN REGISTERED PERSON TO REGISTERED PERSON.
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
