Gift paid to Parents

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Hanmantu N.Sai

Hanmantu N.Sai (Querist)
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04 February 2011 Hi

May i claim deduction from my income if i paid gift to my parents in terms of cash or cheque

B. Gopalkrishna Baliga

B. Gopalkrishna Baliga (Expert)
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04 February 2011 No. whether you are having business income, salary income or any other kind of income, you cannot claim deduction on account of gift given to your parents.

Mahesh Babu

Mahesh Babu (Expert)
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04 February 2011 GIFT given to parents, Relatives or any other person cannot be claimed as deduction.

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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04 February 2011 you cant claim as deduction.

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