Regarding gift

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 May 2016 SIR,
IF MY FATHER GIVE ME BY CHEQUE RS. 100000/- AS AN GIFT THAN RS.100000/- IS TAXABLE OR NOT AND I HAD INTRODUCED THE AMOUNT IN CAPITAL A/C OR NOT
SIR PLEASE HELP REGARDING THAT MATTER

THANKING YOU

03 May 2016 Gift from father to son, being relatives not taxable as per section 56(2)(Vii).

03 May 2016 gift recd from relative not taxable




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