cash gift to my married daughter

Hey,

There will not be any tax applicable in this transaction

Although cash gift is exempt on the occasion of marriage or to the relative. But it will attract the  penalty u/s 269ST of 100 % of the amount reced in cash in excess of Rs. 2lakhs.

Also keep in mind the provisions of Sec 269ST read with section 269DA while making the gift in cash.

Gift to Relative is exempt under Income Tax

Relative includes Daughter

Hence in your case, gift to your daughter will be exempt. However it is advisable to gift using Banking Channel i.e. Account Payee Cheque or Account Payee Bank Draft or ECS only. Also you should make a Gift Deed specifically declaring that this gift is out of natural love and affection and that it is irrevocable and that you reserve no claim on said gifted amount.

Should not gift in cash as the provisions of S. 269ST will be attracted for amount in excess of Rs. 2,00,000/- and could attract penalty to receiver.