Tax implications on gifts
This query is : Resolved
27 May 2016
Granddaughter can give the gift to his grandfather. Grandfather received gift is taxable or not.
Any Gift deed required.
Granddaughter can give the gift to his grandfather. Grandfather received gift is taxable or not.
Any Gift deed required.
28 May 2016
Gifts are tax free if they are received from Lineal Ascendant or Descendant.
It is always advisable to have a gift deed for any future need.
CA MITHIL MUNOT
contact:- camithilmunot@gmail.com
It is always advisable to have a gift deed for any future need.
CA MITHIL MUNOT
contact:- camithilmunot@gmail.com
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