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Gift received from father

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 November 2013 Mr.A gifted a cheque of Rs.13,50,000/- to his Son Mr.B. who is living with him only. Can you pls tell me in this case Tax will be exempted. If not who will be liable to pay Tax.
pls help me by your reply.
thanks.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
08 November 2013 There is no tax incidence as gift received from a relative is not treated as income.
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