Tax liability on gift amount given to blood relation

This query is : Resolved

CD SHARMA (Querist)
Follow

11 November 2025 Sir,
Whether transfer Rs 50 lacs to my two sons (50 lacs each son) through RTGS or cheque as a gift during a financial year is totally tax free for donor and donee?

2. If, their is any boundation to prepare gift deed on stamp paper duly notirrised?

Thanks sir

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

11 November 2025 1. Not taxable to either of you.
2. No; but advisable to prepare on stamp paper as confirmation/declaration.

CD SHARMA

CD SHARMA (Querist)
Follow

11 November 2025 Thanks sir.
I am thankful to you for your quick response and valuable advices.
Highly obliged sir.
🙏

CA. Ankit Vijaywargiya

CA. Ankit Vijaywargiya (Expert)
Follow

11 November 2025 Since both sons are receiving ₹50 lakhs each from their father (a relative), the transaction is fully exempt from tax in their hands, irrespective of the amount or mode (bank transfer, cheque, etc.) and Gift deed is not compulsory but recommendatory in order to prove genuineness of transaction.

CD SHARMA

CD SHARMA (Querist)
Follow

11 November 2025 Thanks for your valuable guidance and advise.
🙏

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now