Gift to daughter exceeding 50000

Gifts given to a daughter, regardless of her age or marital status, are completely exempt from income tax if they come from her parents. This is because parents are considered relatives under the Income Tax Act. Gifts from other relatives, such as a maternal uncle (mama) or a spouse's grandparents, are also tax-exempt. However, if a maternal uncle receives a gift from his niece or nephew, it is taxable.