Clubbing for married daughter

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This query is : Resolved

jinesh (Querist)

13 July 2012 Dear Sir,
first case:
A person who was retired from government Job. what should be the plan for transferring the amount to Married daughter? how much he is going to tranfer to his married daughter?

second case:

he was retired in 2009-10 and in 2010-11 he has transferred some amount to his unmarried daughter and the same is invested by his daughter outside where she earned interest at the end of the year. should i consider in his father income because he has transferred from his bank?
A.Y.2011-12 consider or not?

and now P.Y.2011-12 A.Y.2012-13 full Amount is left with her and she earned again interest in this financial year. should i consider the same in this A.Y.2012-13? and one thing she got married in this june,2012 how i can treat this Amount and income thereon for further A.Y.? what should i suggest to his father for this tranferred Amount?

please explain cleanly so that i can file return for this A.Y.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

14 July 2012 To married daughters , he can gift as per his own wishes.
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If the amount has been gifted to the married daughter, no need to club.
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Gifts given to major son/ daughter are absolute gifts and no clubbing of the income arising out of gifted amount is required.
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Amount gifted to married daughter -may be a minor - do not attract clubbing provisions.
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