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  3. 47. on 20.10.2020, pihu (minor child) gets a gift

47. On 20.10.2020, Pihu (minor child) gets a gift of 20,00,000 from her father's friend....

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Accounting

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47. On 20.10.2020, Pihu (minor child) gets a gift of 20,00,000 from her father's friend. On the same day, the amount is deposited as fixed deposit in Pihu's bank account. On the said deposit, interest of 13,000 was earned during the P.Y. 2020-21. In whose hands the income of Pihu shall be taxable? Also, compute the amount of income that shall be taxable

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