Please resolve my pending query of earlier question to proceed so I had repeated that question for previous conversation.
Q. But if I am giving amount with notarized gift deed to dad now ,not registered gift deed,as dad investing that amount in NSC and while filing return of dad I am showing income to my dad for that year in other source income of 4.5lks which I gave for this year and paying tax for whatever taxable income ,than interest earned on which amount I had sent he made investment in NSC will be taxable to dad only or me?????
????
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help how to transfer amount to dad account
Replies (4)
Dad, if NSC investment is in name of Dad.!
it'll be taxed in the hands of your dad
and as gift deed made notarised so if it people and I would not considered my given amount as dad income while ITR returning than????
No. Gift amount given to dad by you is not income of dad.
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