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Gift to father taxability

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(Querist)
17 May 2017 i want to gift rs 5 lakh to my father. is it taxable in his hands ?
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Sunil Sharma

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Sunil Sharma (Expert)
17 May 2017 No it is not as you have already paid tax on it being a salaried person if not then need to check the nature of transaction.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
17 May 2017 Gift to relative is exempted under income tax.
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