Gift tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 October 2011
Hello All,
I have few questions related to Gift tax. Need help from experts.
1. does money gift from father to daughter has tax liabilities [ either gift or income]?
2. Is there a limit on the gift amount for question 2?
3. does money gift from father-in-law to son-in-law has tax liabilities [ either gist or income]?
4. Is there a limit on the gift amount for question 3?
5. What legal documentaion is required for such a transaction?
I have few questions related to Gift tax. Need help from experts.
1. does money gift from father to daughter has tax liabilities [ either gift or income]?
2. Is there a limit on the gift amount for question 2?
3. does money gift from father-in-law to son-in-law has tax liabilities [ either gist or income]?
4. Is there a limit on the gift amount for question 3?
5. What legal documentaion is required for such a transaction?
CA MANOJ GUPTA
(Expert)
05 October 2011
In all the cases no tax consequences in the hands of father/daughter/FIL/SIL
No limit in either case
write a gift deed and make payment by cheque
CA MANOJ GUPTA
JODHPUR
09828510543
No limit in either case
write a gift deed and make payment by cheque
CA MANOJ GUPTA
JODHPUR
09828510543
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