Gift taxation & clubbing of income
This query is : Resolved
17 July 2014
Situation
A mother gifts some amounts to daughter, son & sons wife,
they further pay their LIC out of this gift money
will investments be clubbed under hands of mother,considering LIC as investment
A mother gifts some amounts to daughter, son & sons wife,
they further pay their LIC out of this gift money
will investments be clubbed under hands of mother,considering LIC as investment
17 July 2014
the ans is no as gifts to relative is not taxable at all.
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