Can a minor give gift

Dear Deepak,

There is no restriction on minor as far as gift is concerned. But the point is the income arising out of such gift.

If a person gifts anything to his minor child than the income of such gift is chargeable in the hands of the parent.

Now, here minor can return the gift received from the parents. There will be no tax liability at all.

But here also the income arising from such gift shall be taxable in the hands of the parent.

Can a minor child gift shares to the parents.