My Married Daughter wanted to give gift to mother of RS.one core.few yers back we had f given Flat to her by Gift.
Now she have good income flat sell amount to give as Gift.
Is this will be Taxable.Please guide me.
Thanks
My Married Daughter wanted to give gift to mother of RS.one core.few yers back we had f given Flat to her by Gift.
Now she have good income flat sell amount to give as Gift.
Is this will be Taxable.Please guide me.
Thanks
Gift from married daughter to her parents or mother will be tax-exempt under sec. 56(2)(x) of IT act.
If a gift given among the relatives is not taxable but there are many deep provision to take care of
a Detailed Summery can be checked at below link
GIFT FROM RELATIVES
SSGS and Associates
Chennai
CA Inter
View Details
CAclubindia
