Dear sir,
I want to gift some amount of money to my own sister. Please let me know how much money I can transfer to my sister's bank account without paying tax.
Rgds
Rajanna K V
5 Replies
Sandeep Jain
(Pivate)
(1459 Points)
Replied 02 November 2022
Rs.50000 but better to prepare Gift dead.
sabyasachi mukherjee
(27574 Points)
Replied 02 November 2022
Rs. 50000 is exempted but it's a blood relation.
RAJANNA K V
(GM Civil)
(58 Points)
Replied 02 November 2022
Dear sir,
My sister is blood relation only, that is born next to me. So in this case also only 50000 Rs is exempt from tax?? But I heard from my friend one can gift any amount to blood relation persons( ie own sister/brother etc). Please clarify further.
ANIL KUMAR KHETAN
(PROPRIETOR)
(542 Points)
Replied 02 November 2022
Yes blood relation any amount exempt , so gift to own sister is exempted
rama krishnan
(12239 Points)
Replied 04 November 2022
Gift to relatives in cash or kind is exempt without any limits
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