Gift
This query is : Resolved
15 August 2015
Is gift in money received by a women from her father is a taxable? If such amount get deposited in bank fd by a women then it's interest will taxable or not
16 August 2015
Gift money received from father is not taxable. Interest earned on deposit of the gift amount is taxable.
16 August 2015
Gift received from relative (which includes father), shall not be taxable in the hands of woman. However interest earned on FD, shall be taxable under the head "Income from other sources".
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