I want to gift NCD/bonds of amount 3.5 lakhs to my mother in law,
what will be the tax implications ?
The NCD/bonds give interest annually, will there be any clubbing implications ?
Mother in law income is below tax threshold. I am in 20% tax bracket.
1. Will I or her needs to pay tax at the time of gift ?
2. Will the interest income needs to be clubbed with my income every year ?
Regards,
Check if NCD/bonds can be transferred by way of gift, and what documents required. This gift shall be non-taxable in the hands of the mother-in-law. But the interest earned on the bonds shall be taxable.
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