Father Gift to Daughter (Major above 18yr) of Rs.50L cheque So my Q Is
1) Gift income from father is fully Free or not and any limit for gift from father?
2) Gift income amount investment in FD or Loan given to Third Party with interest income. So Interest income is daughter or club in father account?
Menu
Gift Act Query
Replies (1)
1. Gift made of INR 50L by father to daughter is tax free.
2. income earned by daughter with this 50L funds is taxable in the hand of daughter.
no clubbing provision would be apply
Recent Threads
- Income tax status
- Demand raised for 'Self assessment tax' amount AY2
- TDS payment using Form 26QB when buying property o
- Export sales not realised payment not received fro
- RCM related queries
- Negative Export Value in GSTR 3B
- Income tax intimation -AY 24-25
- Tax Implications of Alumni Union (R) under Society
- Heard & Seen Around – Your Daily Economi
- Purchase and sales of Shares entry in Tally
Related Threads
CAclubindia
