Daughter received cash gift (bank transfer) of Rs 25 lakh from father.what is the tax implications for receiver . should it be shown in itax return of daughter .if yes, in which column.Should a gift deed required.
Tapan bose
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Gift from father
Replies (4)
It's Exempt from tax..
Required to show as Exempt income in Income tax return..
Gift deed required to be made on stamp paper.
Required to show as Exempt income in Income tax return..
Gift deed required to be made on stamp paper.
Thank u
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