Money gift

Shivani (Learner) (1881 Points)

27 March 2019  

Dear Members

I have Rs. 7 lakh balance in my saving account which is my earnings for FY 18-19.

I need Rs. 13 lakh to make payment to a builder.

My dad can break his FD of Rs. 6 lakh and deposit the amount in my account bringing my savings account balance to 13 lakh from which i can then make payment to builder.

My question is will this Rs. 6 lakh will be treated as gift by my father to me and not taxable in my hands.

Will i get income tax notice?

Please guide.

regards

shivani