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Gift to grand son

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(Querist)
17 March 2018 I have received Land compensation and want to give my daughter son whose age is 30 years amount given by me is taxable in his hands
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
17 March 2018 won't be taxable in the recipient's hands. whether the compensation received is taxable in your hand needs to be evaluated.
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
17 March 2018 Yes, gift to grandson is out of Income tax purview.
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VIKRAM

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VIKRAM (Querist)
18 March 2018 Land compensation received Amount given to my daughter and grandson is taxable as amount in my hand is tax-free
And being a senior citizen my age is 82 years I want to give entire amount
Regards

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