Gift to married daughter
This query is : Resolved
26 April 2015
If a senior citizen 'gifts' the proceeds from sale of her 'house property' to her two 'married daughters' ..
What will be the tax treatment for all the three assessees ??
26 April 2015
Gift to relatives u/s 56(2)(vii) is exempt from Tax. Therefore no tax implication for all the three assessees.
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