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Gift to daughter
is gift to major daughter exempt under income tax act
Replies (4)
Yes, Gift to major daughter is exempt under income tax act. Because it's fall under the definition of relative.
Threshold limit rs.50000.
@ Sabyasachi ji
Gift to daughter means...in hand of daughter it's gift from Parents...
Parents are considered as relative as per income tax act.
So, Any Gift received by daughter (whether she is dependent/independent/major/minor/married/unmarried) from parents is exempt from tax, there is not limit.
Gift to daughter means...in hand of daughter it's gift from Parents...
Parents are considered as relative as per income tax act.
So, Any Gift received by daughter (whether she is dependent/independent/major/minor/married/unmarried) from parents is exempt from tax, there is not limit.
Sec 56 ..
yes its exempted...
but gifts from relative and especially parents are exempted under Income tax act.
yes its exempted...
but gifts from relative and especially parents are exempted under Income tax act.
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