Gift to any of son or daughter
This query is : Resolved
Sanjoy Acharjee
(Querist)
12 July 2016
Is Gift by mother or father to any child, be major or not is taxable in the hand of the child?
Is the non-refundable / unsecure loan to son or daughter be treated as gift or income of the son or daughter or his/ her income from other source?
Is the non-refundable / unsecure loan to son or daughter be treated as gift or income of the son or daughter or his/ her income from other source?
CA. Sunil Gokhale
(Expert)
12 July 2016
Gift to son or daughter will not be taxable.
Sanjoy Acharjee
(Querist)
12 July 2016
if it is unsecure loan/ or non-refundable loan from father or mother, can it be treated as gift to son or daughter to be non-taxable
CA. Sunil Gokhale
(Expert)
12 July 2016
Non-refundable loan is nothing but gift. But not taxable as it is recd from "related person"
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