Taxation on gifts

Ashwini (ARTICLE ASSISTANT ) (195 Points)

08 November 2016  

IF A MINOR GRAND DAUGHTER RECEIVES GIFT OF MORE THAN AMOUNT RS. 50,000 ; FROM GRANDFATHER'S HUF , IS IT TAXABLE IN HER FATHER'S HAND? IF SHE IS A MAJOR , IS IT TAXABLE IN HER HANDS?