How much amount in a FY I can give to my married daughter as gift through Bank transfer and any limit for a single transaction.
Menu
Gift as money from parents
Replies (5)
Quick Summary
No limit.
No limit
There is no limit. But it is advisable to show the money as exempt income in the return of your daughter, if the amount is significant.
Gift is capital receipt. It is not income. No, you should not show under Exempt income.
I think this is basically to avoid scrutiny at a latter stage. There are several news articles where it is mentioned that it is advisable to disclose in the return. Providing for reference. https://www.financialexpress.com/money/income-tax/your-queries-no-tax-on-gift-from-relative-but-show-it-in-itr-under-exempt-income/1856135/
Recent Topics :
- Clarification on September 2026 PF Calculation for
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
Related Topics :
CAclubindia
