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
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Married Daughter gift to mother
Replies (2)
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
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