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Gift

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 October 2010 Please tell me the provisions relating to gift. Can I give gift to my father and will it liable to tax. What is the limit of the gift amount.....
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CA Punit

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CA Punit (Expert)
28 October 2010 gift to a relative is not taxable in the hands of the relative

you can make unlimited gifts to your father
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
28 October 2010 U can gift any amount. It is not taxable in the hands of the father not clubbing provisions apply.
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