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7 Points Posted on 29 May 2021
my daughter is 12 years old . I have taken her pan card . how much amount can I gift him every year . will that be chargeable ? and if my daughter is getting holi diwali gift from family members ( in small propertion which became 25000 together ) will that be taxable ? how to make minors file
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On 29 May 2021 at 08:26 Report
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This discussion clarifies the tax implications of gifting money to a 12-year-old daughter who has a PAN card. Gifts from relatives, including festival presents totalling £25,000, are generally exempt from tax and not chargeable. The conversation confirms that such gifts do not need to be declared as taxable income for the minor.

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Chartered Accountant
24588 Points Posted on 29 May 2021
No it is not taxable as it comes under relatives category. It is exempt
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On 29 May 2021 at 09:16
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7 Points Posted on 29 May 2021
How much such income can be exempted from tax
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On 29 May 2021 at 09:24
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Chartered Accountant
24588 Points Posted on 29 May 2021
It is not taxable irrespective of income as it is relative category gift
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On 29 May 2021 at 10:28
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7 Points Posted on 29 May 2021
Thank you sir
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On 29 May 2021 at 10:48
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Chartered Accountant
24588 Points Posted on 29 May 2021
Your welcome
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On 29 May 2021 at 13:59
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7 Points Posted on 29 May 2021
Can I have ur contact no.
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On 29 May 2021 at 15:10
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Chartered Accountant
24588 Points Posted on 30 May 2021
Please DM
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On 30 May 2021 at 06:00

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