hello,
my father wants to give me some lakh rupees. Is there any tax amount on that money. or any other option to receive money from father without tax liability.
thanks
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gift money.
Replies (7)
No tax liability when transferred through banking mode, and gift deed prepared.
Any gift received from relative is fully exempt...
hence not taxable ... exception to sec 56(2)(vii)
hence not taxable ... exception to sec 56(2)(vii)
amount is 50 lakh above and I am married.
Whatever be amount, no gift tax in your case.
thank you very much sir
Most Welcome, Dear.....
I want to give 3 lac gift by bank to my brother
there is any need to write any deed??
there is any need to write any deed??
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