Gift
mrugank (nothing) (31 Points)
10 June 2018
Money gifted to son from father through bank transfer,taxable?? And gift deed needed??amount is above 8 lacs
7 Replies
RAJA P M
("Do the Right Thing...!!!")
(128111 Points)
Replied 10 June 2018
Yes... I agreed to Mr Dhirajlal Rambhia Sir opinion..
Mayank Gupte
(student)
(35 Points)
Replied 10 June 2018
Any amount transferred by the assessee by way of gift to his family member,to dilute the burden of taxes, the same would be clubbed into the hands of assessee, therefore this would not taxable as it is already taxable into the hands of his father( in this case). Ofcourse, gift deed would be required.
GST Consultant
(Tax Consultant)
(894 Points)
Replied 10 June 2018
gift deed is required and it's not taxable
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