cash gift
This query is : Resolved
Pervez Akhter
(Querist)
06 July 2011
Dear friends, I want to give cash of2.50 lakh to my mother. She is house-wife / unemployed. My quwry is that whether the cash gift inlcuding interest would be clubbed / treated as my income for the purpose of taxation. If so, what is the wayout .. Pl advise... Thanks & regards
CA PARAS BAFNA
(Expert)
06 July 2011
Cash gift to mother is tax free. Further, clubbing provisions are not attracted.
06 July 2011
if its a gift to mother it will be tax free... and dat money will den be property of your mother... so whatever income generated from such money will be your mothers income
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