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Gift tax

Tax queries 195 views 5 replies

Can I give a gift(money) to my daughter in law without attracting gift tax? She is a non-working housewife.

Kindly give your answer in detail as much as possible.

Thanks

HARSHAD KHONA

 

 

 

 

Replies (5)
yes daughter in law will cover in definition of relative and gift to relative is not taxable .

Thanks for your reply.

Do I prepare Gift Tax deed and register it?

Thanks,

HARSHAD KHONA

Just will prepare Gift Deed... No need register the deed. Also it's not mandatory...
stamp duty need to be paid for gift deed..

Thanks for quick response.


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