CA Day celebration 2024 Easy Office
LCI Learning

Taxability of cash gift

This query is : Resolved 
Profile Image

Profile Image

(Querist)
12 March 2014 I wish to give a cash gift of Rs 2 lakh to a new born child of my daughter. Will it be exempt from tax in the hands of the minor. if yes why?
Profile Image

CA Nikhil Bhansali

Profile Image

CA Nikhil Bhansali (Expert)
13 March 2014 Yes Its exempt u/s 56
Profile Image

CA Nikhil Bhansali

Profile Image

CA Nikhil Bhansali (Expert)
13 March 2014 But income from this 2 lac is subject to clubbing provision
With Regards
CA NIkhil Bhansali

bhansalinikhil@ymail.com
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CA Day celebration 2024 with Tally CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links