I gifted 1 lac each to my daughter & wife from my legtimate source. I am a salried person. Does any of us need to pay any tax on gift amount. My wife & daughter had put the gift amount in TDR gaining 3 - 5K in interest. They have some earning thru Home tuitions below 1 lac each annualy. Do they need to pay any tax on interest or income and need to file any ITR.
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Tax on gift received
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