Gifting money to Niece

Somu1950 (Others) (25 Points)

16 August 2023  

Hello experts, kindly guide me.

I want to transfer Rs. 10 lakh to my niece bank account and convert that amount into an FD and gift it to her. This is from the perspective of preparation for her marriage in next 2-3 yrs. Please enlighten me on the tax implications on my / my niece. What type of documents do I need to prepare to make this a legitimate gift.

regards,

Somu