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I.t.query for net income is low and gift value high

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(Querist)
03 January 2021 Sir,
A I.t. Assess net taxable income is low(below 5lacs.)but assess cash gift to son amount Rs:10 lacs through on bank mode show in f.y 19-20.
Question:
Assess net taxable income is low and gift value amount high allowed in I.t act.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
04 January 2021 Such gift possible in view of accumulated savings in bank account.
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