Deduction of money given to family member as gift
This query is : Resolved
27 March 2019
Please let me know is there any provision to claim deduction in r/o money given to family member as gift for personal use. Suppose if i have transferred rs.45000/- to family member via internet banking for personal use. Can i claim deduction and in which section . Regards
27 March 2019
Gifts cannot be claimed as deduction under IT Act
21 November 2021
It will be deduction in capital account!!
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