Hello experts, kindly guide me.
I want to transfer Rs. 10 lakh to my niece bank account and convert that amount into an FD and gift it to her. This is from the perspective of preparation for her marriage in next 2-3 yrs. Please enlighten me on the tax implications on my / my niece. What type of documents do I need to prepare to make this a legitimate gift.
regards,
Somu
hello Horizon Learning
Since relative covers "d.Brother or sister of either of the parents of the individual", will there be still some tax implications on my niece on the amount transferred ?
Thanks Mr. Raja P M ji.
Can you pls clarify in light of this defination of relative "d.Brother or sister of either of the parents of the individual" whether Niece will still not be considered as relative ?
CAclubindia
