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Gift to daughter's children

ANIL KUMAR KHETAN (PROPRIETOR) (486 Points)

06 October 2020

Gift to daughter's children are exempted gift as a received from relative or not.Please clarify the position

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3 Replies

Santosh Hegde (133 Points)
Replied 06 October 2020

For grandson his grandfather/grandmother is a relative so it is not taxable in the hands of grandson.However if the gift received is further invested somewhere then the income arising from that investment will be clubbed in the hands of parents.

ANIL KUMAR KHETAN (PROPRIETOR) (486 Points)
Replied 07 October 2020

Please clarify the position , if gift to daughter's daughter - Exempted or not

Santosh Hegde (133 Points)
Replied 08 October 2020

It' s exempt

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