Gift tax
can i give 15 lacs cash as a gift to my daughter for doing separate business., ? If yes, how?
may I give 1-1 lac within a month by cheque or cash?
Please inform
Replies (6)
Avoid cash transaction. You can give by cheque. There is no incidence of gft tax on gift from father to daughter, irrespective of amounts
Thanks for replying but sir, my question is, I will pay gift 1-1 lac within a month upto 15 lacs. Is it valid for gift transaction. Please reply.
No problem you can pay in whatever instalments you want. Like I said cheque payments are safest to prove.
Sir, Thank you very much.
Will clubbing provisions be applicable for profit earned from business.
Mr. Ranish,
If profit comes, my daughter will pay tax.
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