Tax liability on gift amount given to blood relation

This query is : Resolved

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.

SHARMA

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.

SHARMA

SHARMA (Querist)
Follow

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

CA Kedar Sakhardande

CA Kedar Sakhardande (Expert)
Follow

18 November 2025 Gift deed can be on a simple piece of paper stamp paper not warranted per law.

But as suggested by experts since the amount is high advisable to do so

SHARMA

SHARMA (Querist)
Follow

18 November 2025 Thanks sir for your valuable advise and guidance.

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

kopparapu bheemarao

asmita gupta

venkateswara reddy

Mahasweta Deb

nitin

Subscribe Now

Tax liability on gift amount given to blood relation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA