LIVE GST Certification Course by CA Arun Chhajer begins 21st April. Register Now!!

Cash gift to mother

Pervez Akhter (AGM[Legal]) (25 Points)

06 July 2011

Dear friends, I want to give cash of2.50 lakh to my mother. She is house-wife / unemployed. My quwry is that whether the cash gift inlcuding interest would be clubbed / treated as my income for the purpose of taxation. If so, what is the wayout .. Pl advise... Thanks & regards

Reply
Follow
Share

2 Replies

Deva R (student) (83 Points)
Replied 06 July 2011

No probs friend. Gift will not be taxed as mother comes under relative definition. Interest income will not be clubbed with your income as there is no provision regarding mother and son in section 60-64 of Income tax act.

1 Like

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 06 July 2011

Originally posted by : Deva R
	No probs friend. Gift will not be taxed as mother comes under relative definition. Interest income will not be clubbed with your income as there is no provision regarding mother and son in section 60-64 of Income tax act.