Is gift to daughter taxable

Income Tax
1

I have sold a property and desire to gift the acquired money of 30 lakhs to my daughter. Will my daughter be taxed on this gift amount

2

“Gifting between relations is tax exempted. but clubbing of income will apply for wife/minor son/daughter, daughter in law/son in law. if your daughter is major then no tax on 30 lacs,but income generated on that 30 lacs have to pay tax if she comes under tax slabs.while she filing itr have to declare this 30 lacs as a gift from parents”

First you need to pay capital gains on the profit after selling your property. if u dont want to pay tax then u have to reinvest in residential property or in capital gain bonds.If you are willing to pay capital gains then no issue whatever amount u received after paying CG tax that money you can transfer to your daughter

3

Is Gift Money from Father to Daughter Taxable in India?

Short answer: No, your daughter will not be taxed on the ₹30 lakh gift received from you.

Why Is the Gift Not Taxable?

Under Indian income tax rules, money received as a gift from a close relative is fully exempt from tax.

Who Is Considered a Close Relative?

A father-daughter relationship clearly falls under the definition of “relative” as per the Income Tax Act.

So, even if the amount is ₹30 lakhs or more, your daughter does not need to pay any tax on the gift amount.

Does the Source of Money Matter?

You mentioned that the money came from selling a property. That part is important for you, not your daughter.

· Any capital gains tax on the sale of property is your responsibility

· Once tax (if applicable) is settled, gifting the remaining amount is perfectly legal and tax-free for your daughter

Will Future Income from the Gift Be Taxed?

This is where people often get confused.

What Happens If Your Daughter Invests the Gift?

· If she earns interest, rent, or other income from this gifted money

· That income will be clubbed with your income and taxed in your hands

This rule applies only to income generated, not to the gifted amount itself.

How Should the Gift Be Given?

To stay safe and transparent:

· Transfer the amount through banking channels

· Mention “Gift from father” in the narration

· Keep a simple gift deed for records (recommended, not mandatory)

How Should Your Daughter Report This on Her Tax Return?

· Show the ₹30 lakh under “Exempt Income”

· No tax payable on the gift amount

Final Takeaway

· :white_check_mark: Gift of ₹30 lakhs from father to daughter is tax-free

· :cross_mark: No income tax payable by your daughter on the gift

· :warning: Future income from the gift may be taxed in your hands due to clubbing rules