Married Daughter gift to mother

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

 

 

 

 

 

 

 

 

 

 

Replies (2)
Quick Summary
A married daughter wishes to gift her mother one crore rupees, funded by the sale of a flat previously gifted to her. The question is whether this gift will be taxable. Generally, gifts received by parents from their married daughter are exempt from tax under Section 56(2)(x) of the Income Tax Act, provided they are considered 'relatives' under the law. However, specific provisions apply, and it's advisable to consult detailed guidelines on gifts from relatives.

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

 

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