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Gift to any of son or daughter

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(Querist)
12 July 2016 Is Gift by mother or father to any child, be major or not is taxable in the hand of the child?
Is the non-refundable / unsecure loan to son or daughter be treated as gift or income of the son or daughter or his/ her income from other source?
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CA. Sunil Gokhale

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CA. Sunil Gokhale (Expert)
12 July 2016 Gift to son or daughter will not be taxable.
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Sanjoy Acharjee

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Sanjoy Acharjee (Querist)
12 July 2016 if it is unsecure loan/ or non-refundable loan from father or mother, can it be treated as gift to son or daughter to be non-taxable
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CA. Sunil Gokhale

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CA. Sunil Gokhale (Expert)
12 July 2016 Non-refundable loan is nothing but gift. But not taxable as it is recd from "related person"

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