Taxability of cash gift by mother in law

Suraj (735 Points)

07 December 2015  

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