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Money gifted to son from father through bank transfer,taxable?? And gift deed needed??amount is above 8 lacs
Replies (7)
1. Not Taxable.
2. Yes
Yes... I agreed to Mr Dhirajlal Rambhia Sir opinion..
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.
gift deed is required and it's not taxable
Agreed with the everyone's views
Thanks everyone
u r welcome
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