Gift to save tax to wife and mother

250 views
User Avatar

B.Com
72 Points Posted on 03 February 2018

My taxable income is 5,50,000. I have transfered (via Netbanking) Rs. 1,00,00 to my  Wife or Mother .

Can I show it is gift and save my tax? if yes under which section ? How can i shown in ITR or Income Tax.

 

Male : Age 35 , Salereis Employee in Pvt. Ltd

 

0 Reply Share Follow
On 03 February 2018 at 21:03 Report
Replies (3)
User Avatar

Bara bazar
177 Points Posted on 03 February 2018
It is your income.. You can not gift your income.
If you gift Say Rsm 1,00,000 it will still br assessible in your hands only.
Rather Income arising by these Rs. 1,00,000 shall be clubbed in your hand by virtue od section 64(1A) ( In case of spouse and Spose of son).

Hope this will meet your requirement.
Reply
On 03 February 2018 at 22:06
User Avatar

PRACTICE
472 Points Posted on 03 February 2018
Gift is for ur mother and spouse... Not for u....
Reply
On 03 February 2018 at 22:59
User Avatar

PROPRIETOR
362 Points Posted on 07 February 2018
gift to mother , income from transfer money mother,s imcome
Reply
On 07 February 2018 at 16:00

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Transport agency accounting entry in purchase &amp
  2. REGARDING HSN CODE FOR WASHING JOB CHARGES
  3. Advance Tax Due Date 2026
  4. Query – Interest on Capital Received by Part
  5. Query - Section 164(2)(a) – Interpretation o
  6. Submission for Expert Opinion on Rectification of
  7. NRI since March 2023 – resident savings acco
  8. My All-Time Top 15 Indian Web Series
  9. Wrong date of invoice
  10. Paper 6 - IBS

More recent discussions | Post

Related Topics :

Loading

Latest Job Openings

View all
Company
11 August 2026
Chartered Accountant

Aviv Global Pvt Ltd

Ahmedabad

CA

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
ARTICLESHIP 24 August 2026
Chartered Accountant Articles

Rohit KC Jain & Co

New Delhi

CA Inter

View Details
Company
18 August 2026
Audit Assistant - Remote / Work From Home

CA ANOOP P K & ASSOCIATES

Kozhikode

CA Inter

View Details
Company
11 August 2026
COMPLIANCE EXECUTIVE

YMW COMPLIANCE SERVICES LLP

Others

CA Final

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details