Gift Recevied by Father

if papa of rs. 100000 cheque as gift to son. so this Amount taxable or not.
Replies (2)
Quick Summary
Receiving a gift of £100,000 in the form of a cheque from your father is not taxable. According to Section 56 of the Income-tax Act, gifts received from parents, whether in cash or kind, are considered exempt income and do not need to be declared for tax purposes.

The simple answer is “NO”. Any gift in the form of articles, shares or cash from parents are not taxable on your hand. Under section 56 of the Income-tax Act,
Not taxable....it's Exempt income.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details