Gift from Mother to her Married Daughter

Tax queries 2782 views 4 replies

If a Married daughter received Cash 12 Lakh as a gift from her Mother. is it Expemt or Tax Applecable on Gift.  Kindly reply with Notification or Cercular or Rule.section 56

Replies (4)

It is not taxable as per Section 56(2)(vii) as it is amount received from relative and also no clubbing provisions will apply in this case.

Also you have mentioned that cash gift was paid. So if the gift was paid in cash the source of cash in hand of the mother may be required is asked by the A. O.

Gift is exempt between Blood reletives. no problem if they are married or not.

and more is already explained by Aditya sir.

;)

ya...gift from relatives is exempted....

i accept with all my friends


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