Gift tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 June 2012
Hi,
Can a mother gift by way of cash to his son and his daughter in law.If yes what is the maximum cap on the same.
Regards
Anish
Can a mother gift by way of cash to his son and his daughter in law.If yes what is the maximum cap on the same.
Regards
Anish
18 June 2012
Yes she can make the gift. There is no limit on the amount of gift.
However, income earned by her daughter-in-law from such gift shall be clubbed in her hands.
However, income earned by her daughter-in-law from such gift shall be clubbed in her hands.
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