gifts under income tax
Dhana Sai (234 Points)
14 July 2019reason : my dad's cousin's mom mentioned in her ""will"" that "the balance on 30.6.2019 in andhra bank will be recieved by guptha(my father) . also mentioned that she gives that amount out of affection. since she died her son transferd to my dad's bank account.
is that amount recieved is taxable as per income tax act
thank u