Regarding tax on gift given to a blood relation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 April 2017
I have transferred Rs. 18 lakh to my senior citizen mother's bank account as gift. I have received this money as
my retirement benefit like GPF , gratuity etc.
Please clarify as to whether there is any tax liability for me or for my mother.
my retirement benefit like GPF , gratuity etc.
Please clarify as to whether there is any tax liability for me or for my mother.
28 April 2017
No, but income generated from this transferred amount is clubbed in your income.
CA R SEETHARAMAN
(Expert)
28 April 2017
Clubbing provision not applicable to gifts to mother. Income from gift not taxable in your hand.
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