banner_ad

Sales of Agriculture land

265 views 3 replies
Sir I have sold my ancestral agriculture land for Rs 14.00 Now I want to give this amount to my son and daughter in law.please guide me can the income tax department has any objection to tfd this amount towards my only son and to his wife if yes please guide me what I do to give this amount to my son and to his wife.Thanks
Replies (3)

You can give this amount by cheque or NEFT, without any tax liability.

Make a gift deed for future need, if any.

Sir if the assessee make a gift by deed in case assessee is liable to pay the gift tax??

No gift tax liability when the amount is received from close relative, as per sec. 56(2)(x) of IT act.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details