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Tax on gift to parents / grand parents

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(Querist)
19 March 2019 Whether a gift made to parents or grand parents by a major individual taxable, either in the hand? Is he required to disclose it in his I T Return. Is parents / grand parent required to disclose in their I T returns.
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
19 March 2019 Gifts made to relatives is not taxable for the giver and the receiver
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
19 March 2019 Gifts received can be showed under schedule EI - Exempt income in ITR
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