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GIFT TAX ON GIFT TO DAUGHTER

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(Querist)
16 August 2022 I want to Gift approx Rs 10 lacs to my daughter. would like to know if any TAX applicable to her on receipt of money. She is a student and does not have any income.

also , do I need to prepare any document of Gift.

Kindly advise.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
16 August 2022 1. No gift tax when gift received from father/relative.
2. Pay by banking channel, no need of any gift deed.

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