Gift
This query is : Resolved
17 November 2017
Dear Expert.If Father sold some plot. can give 50 Lac amount as a Gift to his son then can we show Gift expenses in the books of Father account.
17 November 2017
Not an expense being money given out of love and affection to son with out
consideration.
consideration.
17 November 2017
The father cannot claim the gift given to son as a deduction from the taxable Capital Gains, if any.
Amol S Joglekar
(Expert)
17 November 2017
father can very well gift the amount. But it is NOT regarded as expenses
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