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Gift in cash to mother from daughter

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(Querist)
11 November 2015 I had gifted Rs. 400000 to my mother in CASH .
I am a married lady. Is it valid under Indian Income tax act
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
11 November 2015 Yes. Its valid. No tax implication. Just get a gift deed executed for record.
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Trinadharao Adigarla

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Trinadharao Adigarla (Expert)
11 November 2015 Income Tax Not applicable gifts from Relatives


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Amol S Joglekar

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Amol S Joglekar (Expert)
11 November 2015 it is very much valid. In stead of making GIFT DEED (which is a subject matter of stamp duty), you can make a letter of GIFT.

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