Gift given by father to son
This query is : Open
10 June 2013
If a father gives 20lac as a gift to son and then the son invests that in a house, who is taxable in this case and what is the tax rate?
Thanks a lot
Thanks a lot
Rupesh Jain
(Expert)
12 June 2013
make proper gift deed
then income taxable in hand of son
as individual
then income taxable in hand of son
as individual
12 June 2013
Gift deed should mention that this is a gift to son? What is rate of income tax? So if i add the fathers name in the house bought then there will be no tax payable by the son?
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