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Gift to daughter's children
Gift to daughter's children are exempted gift as a received from relative or not.Please clarify the position
Replies (3)
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.
Please clarify the position , if gift to daughter's daughter - Exempted or not
It' s exempt
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