Amount Transferred to Children

There is no cap in any act. Depends upon standard of living.

The amount is non deductible from any income, i.e. it should be after tax liability, if any.

But is it taxable to recipient, that is my daughter

No. Because you are her  "relative" as per sec. 56(2) of IT act....

Its advisable to give her through any banking channel, but not by cash.