Can a daughter gift Rs.10 L to her mother with out her mother paying any tax?
yes, you can execute a registered gift deed. regarding Gift tax only Rs. 50000/- worth of moveable or immovable property is tax free in the hand of the recipient. anything amount beyond that is fully taxable.
Advocate Rohit Dalmia
Total likes : 1 times
Sir,Since both mother & daughter are both blood related,I was told that there is no limit on gift amount.And there is no tax on them.
Yes, you are right Mr Kamal there is no tax on gift from daughter to mother. It is tax free in the hand of mother for any amount under IT Act.
Mr. Jain is right.
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