banner_ad

Taxability of cash gift by mother in law

Tax queries 492 views 1 replies

Dear Sir / Madam,

I wish to know taxability of cash gift (Rs 10 lacs) given by mother in law to her daugher in law. Mumbai based. How much of stamp paper to be used for preparing gift deed and is there any stamp duty on this transaction.

Kindly revert,

Thanks,

Suraj 

Replies (1)

Dear Suraj,

cash gift in the above case does not require any gift deed as its in the form of cash. And its in the form of gift between the relatives and will not attaract tax.

Any income arasing from the gifted amount will attaract clubbing provision ie. the income from the said amount will be taxed in the hands of the mother and law.


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