Tax liability on giving away inheritance to my grandchildren (daughter's children)

Hello Sir/Ma’am, good day!

Please tell me what are the tax implications if I give away my inheritance (received from my father) to my daughter’s children??

Thank you in advance!

Hello @Rakesh_Sharma

Inheritance will be considered as gift and gift received from relatives are not charged to tax.

So If you give away your inheritance (received from father) to daughter (a lineal descendant ) it will be exempt from tax but your daughter’s children are not lineal descendant so that will be taxable in their hands.

Hope this helps!

If I gift the shares to my husband worth more than 50,000 will he have to pay tax on receiving it ?.
Or he will pay tax after selling the shares ?

Hey @Subshiri, if the value of the shares is more than INR 50K, it would be taxable on receiving under IFOS, and if you sell them, they would be taxable under capital gains.