Webpastor 347 views, 6 likes, 0 loves, 3 comments, 0 shares, Facebook Watch Videos from First Baptist Church of Covington, GA: Pastor Cody McNutt WebOct 16, 2024 · Father and son are covered under the definition of “specified relatives". So, a father can give his son a gift worth any amount without any tax implications for both. It is important to mention that as per the current tax laws, in case a person accepts any gift beyond Rupees two lakhs in cash, they may become liable to a penalty equal to the ...
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WebJul 23, 2024 · The Budget 2024 has proposed to consider, effective 5 July 2024, gift of money or property situated in India by a person resident in India to a person outside … WebMay 6, 2024 · There is no tax liability in India for you or your daughter. Under the liberalized remittance scheme you can transfer upto 250K outside of India without much … hetty krist
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