D. M. Puri
(Querist) 19 February 2023
This query is : Resolved
Is cash gift to daughter is taxable taxable at her hands? What are the provisions please? Do we have to make Gift Deed? Please advice.
This discussion explores whether cash gifts given to a daughter are subject to tax in her hands and what legal provisions apply. It also questions the necessity of a gift deed for such transactions. The consensus suggests consulting a local Chartered Accountant or tax consultant for accurate guidance, as the gift deed itself might be taxable.
kavksatyanarayana
(Expert) 19 February 2023
The gift deed will be taxed. It is better to consult a local CA in the matter for proper guidance.
Dr J C Vashista
(Expert) 20 February 2023
Consult a local chartered accountant / tax consultant.
P. Venu
(Expert) 23 February 2023
What are the facts? What is the context?
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