Hi,
My client's HUF has gifted his married daughter Rs. 3,50,000/- as gift. Is it taxable in the hands of the daughter? Earlier, he had done the same thing and in that year he had a scrutiny and no questions were raised on that by the IT officer.
Thanks in advance!!!
It is not taxable in hands of duaghter bcoz it is frm a relative in any occassion(i.e. daughter or married daughter) ......
not taxable
married daughter is co-pancer of HUF still in books, so the amount is treated as payment to member.
Shyam Joshi & Associates
Pune
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Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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